Seems to me that we still have the same problem that we have experienced for about as long as I can remember…. Huge demand and under supply…. Unfortunately this is now exacerbated by the fact that people believe they can pick up a bargain as it is a ‘buyers market’, therefore prospective sellers are reluctant to place their properties on the market for fear of having to take a hit on the price. And the result is less stock, huge demand and virtually no movement. So if buyers realise that they cannot obtain hugely discounted property, and sellers realise that we are not in a buyers market then we will be well on the way to recovery…. Here’s hoping!
“US President Barack Obama’s speech in Cairo today along with massive infrastructure investment is set to put the spotlight on Egypt where the real estate market will benefit, it is claimed.” – Source: Property Wire
Egypt has maintained a relatively strong property market throughout the global recession and received a further boost in June when Barack Obama made a keynote speech there which highlighted the area to the world and may even push Americans to invest there.
With the recession forcing developers to think hard about their prices and a bright future looming, Egypt is currently looking like a great investment….
Residential UK property prices look like they’ll end the year higher than they started, but will still face challenges during 2010, according to the latest analysis of real estate trends by RICS.
At the start of the year RICS (The Royal Institute of Chartered Surveyors) predicted that prices would fall by 10% in 2009 but now due to a substantial shift in sentiment in the uk housing market over the past few months which has seen prices starting to pick-up in some areas, it now predicts a much more positive outlook.
Isn’t it nice to start seeing some positivity back in the market – not just property but all areas of business… caution still needs to be taken of course and certainly lessons learned from the credit mistakes a lot of people made in the last decade. But hopefully we’ll learn from this and move forward at a steady pace…? Do you think that’s possible?
So it now looks like the average house price in the 4th quarter of 2009 could be slightly higher than the same period in 2008, RICS says in its latest uk property market survey. However this does not indicate a quick return to the boom time, as activity remains very weak by historical standards, the report points out. Although mortgage approvals have gradually improved recently even if they continue to do so, transaction levels would still be well below the long-run average as a significant increase in approvals is still being hampered by the limited availability of mortgage finance.
It seems mortages are still very hard to get which I think will hold the market back a lot for the rest of 2009… any IFA’s wish to comment please let us know your thoughts…
- Nick
I’ve always struggled with this question, because how do you get to the people that really need this knowledge as it’s catch 22. They don’t know about property investment strategies and will go on blindly unless they stumble across a company like us or another respected professional in this industry…
Traditional marketing won’t work – it’s like a “meatball sundae” as Seth Godin (expert marketer, author and guru in my book) would say… New exciting property investment strategies need focused investors to really make use of ther true potential. These people are usually highly IT literate and hence they will have already found us via the website, this blog or perhaps even Twitter or Facebook. The others – word of mouth perhaps (often very effective!), network meetings, seminars? Some unlikely to get a high hit rate I’ve found and often you can’t tell where your next valued customer will come from…
Anyway I hope this blog will find the more un-educated property investors amoungst you and you can follow our tips, tricks and general ramblings about property which should brighten your day and hopefully before long put some money in the bank for you!
What would you like us to talk about? Suggestions welcomed via the “comment” feature at the end of this post and we’ll try and post a training session up on your chosen topic!
Thanks
Nick
The housing market is now in the early stages of a recovery that will be led by the prime market, according to a new report from Savills…
In Residential Property Focus, head of Savills residential research Yolande Barnes said that the imbalance between demand and supply that the housing market was experiencing “makes a recovery inevitable.”
Another indicator was a restored confidence in good old property, triggering price increases over the last few months, with prime London areas seeing a price increase of 4.3per cent for between March & June.
Savills said it expected prime areas to lead the recovery as they were less susceptible to restricted lending by the banks and unemployment.
The estate agent also said that it anticipated more properties to be put up for sale in the autumn which could disrupt the current supply-demand balance to favour buyers. “In this case, new stock for sale will take some heat out of the market,” Savills said.
Source: www.house-builder.co.uk
Well we have recently been offered properties around the $8,000 mark in Detroit USA – so do you think that’s a good buy?
Well I guess if there was some sort of demand it would be as that’s seriously cheap!
My personal feeling is that without living in the US or going over and spending thousands in upkeep and travel costs it would be money badly spent. (I live in the UK most of the year).
You should invest in an upcoming area, a great location and somewhere where there is demand!
Remember location, location, location! AND demand, demand, demand!
They kinda go hand in hand but you get my point…
What do you think?
Nick
Just setup a Twitter feed on our blog… now all our Tweets will appear for our blog readers too! Fantastic!
Trying to get our blog hooked up to Twitter and it’s not easy!
New blog post: http://bit.ly/14Pngq
Check us out on Twitter and follow us… we will follow you back as we are always interested in what our friends and clients have to say!
Hope to follow you soon
www.twitter.com/ColourInvest
Take care
Nick
After a long couple of hours of tweaking and strange error messages all our blog posts are now also sent as Tweets on Twitter!
Follow us on Twitter here: www.twitter.com/ColourInvest
Hope to follow you too soon!
Nick