Strategy and Management Consultants

SUPPORTING ENTREPRENEURS AND S.m.e.'s

Strategy and Management Consultants

SUPPORTING ENTREPRENEURS AND S.m.e.'s

Property Consulting

Property Consulting

Looking to 2023: Were the house price forecasters correct?

The mass uncertainty of much of what has gone on has made the job of predicting the future of the housing market especially challenging. Back in January 2022, the Residential Market Survey, based on a poll of estate agents, was optimistically reporting increasing buyer demand and a shortage of stock. Agents expected both prices and sales numbers to increase over spring – and they were right. The housing market demand to started melting away during the boiling hot summer. Since then, the combination of political whirlpool, the mini budget, rising interest rates, and the cos

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Property Consulting

UK property demand slides 44% after market-rocking mini-budget:

Demand for U.K. residential properties nearly halved year-on-year in the four weeks to Nov. 20 following the government's chaotic budget. Prices are expected to plummet in 2023. The fiscal package, announced Sept. 23, caused a selloff in bonds and led to predictions of a potential housing market crash as interest rate expectations rose sharply. In the wake of the budget, a record number of mortgage deals were withdrawn, and many lenders paused offerings as they assessed the volatility. However, demand had fallen to levels usually seen over Christmas — among the quietest ti

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Property Consulting

Fears for UK property market collapse as US houses crash in value sparking fears:

Property sales in USA plummeted but experts predicted that the UK will be hit harder. Affordability levels are the worst since 1985, in the US. Mortgage rates have hit a 20-year high of 7 per cent, much higher than in the UK. Moreover, transaction in the UK are fairly stable and price declines are still to show up in the official index. Conversely, in the UK a drop of 12% is expected. At the current time, in USA the prices for properties are flat year-on-year. Even though the mortgage rates are lower in UK, the impact will be greater. The problem is the house prices h

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Property Consulting

UK house price growth stalled between August and September:

Typical property values across the UK, have remained unchanged between August and September. The average property value was still £26,000 higher than a year earlier, according to official figures. Average house prices increased by 9.5% over the year to September 2022, slowing from 13.1% annual growth in August 2022. The fall in annual house price inflation is mainly because of the sharp rise in house prices in September 2021 at the end of the stamp duty holiday last year. The mini-budget towards the end of the month sparked unprecedented volatility in the mortgage market,

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Property Consulting

Property downturn hits construction as house sales plummet:

Demand for properties has been cut by half as the high mortgage rates are coming to bite those coming onto the property ladder. As a result, construction companies are pulling away from new projects which is putting the government target for housing at risk for not being met. This is being classed as a "transitional period" as the property market is adjusting to higher borrowing costs. If property prices fall and there are higher rates for raw material, there will be major employment cuts and hence, people unemployed. All factors pointing towards a recession. This is the r

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Property Consulting

Average house prices have now fallen sharply, lowest since February 2021:

House prices recorded the biggest monthly fall in October since early 2021, according to an index by Halifax. The average property value fell by 0.4 per cent, marking the third month-on-month drop seen in the past four months. The average house price in October was £292,598, which was the lowest figure since May this year, although typical prices remained near record highs. Annual price growth among home movers fell to 8.9 per cent in October, from 10.3 per cent in September. Given the greater challenges for first-time buyers in deposit-raising, plus tighter requirements f

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Property Consulting

A decade of rising house prices is over. The UK economy will feel the pain:

Fueled by a post-lockdown buying frenzy, the average UK house price hit a record £275,000 in December, a £27,000 increase on the previous year’s high. People buying houses for the first time benefited from cuts to taxes on their purchases and even though homes were more expensive, rock-bottom mortgage rates kept monthly payments affordable. The sharp and sudden increase in mortgage rates that followed has made it much more expensive to buy a house, leading some forecasters to predict a 10%-15% plunge in prices over the next year. Even though Kwarteng and Truss are out, alo

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Property Consulting

China’s GDP growth below target as property and zero COVID injuries mount the economy:

China's third quarter data has been delayed, spurring queries, as Xi Jinping takes power at the party congress. China's GDP is currently majorly below the third quarter target, the intensification of these stock fall come from downfall of the property market and the tycoons in the past quarter. There is huge concern for the world's second largest economy. In the past three decades this is, for sure, the lowest growth of GDP. There has been 'panic selling' of shares to grow the economy and also reduce the pressure for investors. Despite, creation of more local housing in th

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Property Consulting

Property prices have increased despite mini budget fallout:

September's mini budge has sent the housing market into chaos with an increased uncertainty, mortgage rates soaring, pound tumbling, buyer's now lacking confidence. First time buyers have now pulled out of their plans to move, this has recorded as a 21% decrease. On the brighter side, the demand is still 24% higher than 2019. The jump is more than the average Brits’ annual salary, and comes at a time when rising mortgage rates are acting as yet another barrier to those looking to get on the property ladder. __________________________ What tips can we offer those who are

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Property Consulting

Ireland has posed a winter eviction ban!

The Irish government has approved a ban on new evictions, which will last until March. This has left property owners threatening to take legal action. The eviction ban will not extend to tenants who refuse to pay rent or misuse property, furthermore, existing notices to quit will still be enforceable. Due to the energy crisis and other economical struggles landlords are leaving the sector, however, this ban is hinting to leave them in financial stress. . Support services were “maxed out” and people were falling into homelessness. The eviction ban was “the least worst optio

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