{"id":452,"date":"2010-02-16T17:17:27","date_gmt":"2010-02-16T16:17:27","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=452"},"modified":"2017-04-20T13:29:38","modified_gmt":"2017-04-20T13:29:38","slug":"has-new-optimism-entered-the-market","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=452","title":{"rendered":"Has New Optimism Entered the Market?"},"content":{"rendered":"<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">Whilst optimism has spread throughout the nation as\u00c2\u00a0the annual shift in house prices for the 12 month period across England and Wales rose to 2.5% over the whole spectrum of residential property. According to the Land Registry, the numbers of transactions in the lower end (sub \u00c2\u00a3175,000) of the market rose approximately 8% above normal.<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">\u00c2\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">Optimism that these statistics provide evidence of new house purchasers moving onto the housing ladder is reasonably well founded.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span>It will, however, take a larger level of sustained and continuous growth to prove this.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span><\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">\u00c2\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">Some evidence was noted of a number of transactions under \u00c2\u00a3175,000 taking place to take advantage of the last period of stamp duty relief.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span>To what extent these are home purchasers as against investors, it is not yet possible to confirm.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span>For the second quarter in a row to December 2009, there was an increase in lending on buy to let mortgages.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span><\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">\u00c2\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">When the number and composition of transactions is released by the land registry over the next few months, the market will have a more accurate idea of the true state of the market without the Government\u00e2\u20ac\u2122 s artificial and temporary boost of increasing the stamp duty threshold.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span>This expired on 31<sup>st<\/sup> December 2009.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span>January 2010\u00e2\u20ac\u2122s figures will not be released until later this month.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span><\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">\u00c2\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">The upper end of the market has continued to improve consistently since late 2008.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span>This sector often has different rules and operates in advance of the market as a whole as persons involved in this sector are less dependent on jobs, mortgage availability and other similar constraints.<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">\u00c2\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">The Land Registry reported that, as of the end of December, the average price of a house was \u00c2\u00a3161,783; the monthly change to house prices comprised an increase of 0.1%, and the rate of annual change has now increased to a growth rate of 2.5%. <\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">Interestingly, as a perspective, inflation is now running at 2.9%, with the next Bank of England announcement next week.<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span><\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">\u00c2\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span style=\"font-family: Arial;\"><span style=\"font-size: small;\">Newsletter Editor<span style=\"mso-spacerun: yes;\">\u00c2\u00a0 <\/span>10.02.2010<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whilst optimism has spread throughout the nation as\u00c2\u00a0the annual shift in house prices for the 12 month period across England and Wales rose to 2.5% over the whole spectrum of residential property. According to the Land Registry, the numbers of transactions in the lower end (sub \u00c2\u00a3175,000) of the market rose approximately 8% above normal. &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=452\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Has New Optimism Entered the Market?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-452","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Has New Optimism Entered the Market? - Property Surveying NEWSLETTER<\/title>\n<meta name=\"description\" content=\"Whilst optimism has spread throughout the nation\u00c2\u00a0as\u00c2\u00a0the annual shift in house prices for the 12 month period across the whole of England and Wales rose to..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=452\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Has New Optimism Entered the Market? 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