UK properties still stable
Like last year and the year before, the magnitude of pressure in the property markets in the UK has started to fizzle out in the month of May. The property market in UK is driven by city bonus in London and the local cities. Stock markets tends to do well from November to the mid of May then calm down or do the reverse during the summer months.
GDP, manufacturing, employment will be higher from the period of October to May.
Property interest rates have from 5.5 percent and still there is a prediction of a rise again in the recent times, with a possibility of a further rise of 6 percent by the end of the year. This should cool the property market significantly towards the end of the year.
Regardless of the financial crisis and credit crunch, London GDP and property investment has held up well and is expected to continue to do so. UK property prices have dropped to about 20 percent. Another 6 percent is expected to fall in the following time.
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