Current News
- News and views on the property market - 01 April 2010
- What’s going on - 01 April 2010
- News and views on the property market - 10 December 2009
News and views on the property market
01 April 2010
Market Overview
The Nationwide Building Society has reported a fairly slow start to the year in the UK housing market. Prices across the UK rose by 0.7% in March but the longer term picture showed a slow down in house price inflation.
The Budget introduced a 2 year stamp duty holiday on sales up to £250,000 for first time buyers only to boost the lower end of the market. The other change to stamp duty affected the top end with a proposed increase of 1% to 5% on properties of £1 million plus. This would be introduced in April 2011 in the event that Labour win the next General Election. Knight Frank's Liam Bailey commented that this would be a "minor irritation". "For houses worth around £1million there will be pressure from buyers to pull back asking prices below the new threshold to avoid paying the extra stamp duty" he added.
Whilst there are signs of an increase in supply of good quality property coming onto the market, the economic climate and a forthcoming General Election mean there is still a lot of uncertainty around. So 2010 is predicted to be a 'flat' market with excellent opportunities for buyers to secure sound medium to long term investments in the right properties.
What’s going on
01 April 2010
Shropshire
Coalport China Museum - Easter Ceramic Workshop 2nd-18th April and Enginuity 2nd-18th April at Ironbridge Gorge Museums
Wenlock Poetry Festival, Much Wenlock 9th-11th April
Historia Normanis Medieval Re-enactment Weekend at Whittington Castle 2nd-3rd May
1960's weekend on Severn Valley Railway 8th-9th May
Osfest Music Festival 29th-30th May
Made in Shropshire - Fair in The Square. Shropshire artists, designer-makers and food producers 12th June
RAF Cosford Air Show including The Red Arrows 13th June
Ludlow Arts Festival - outdoor production of Othello and two week fringe festival 26th June - 11th July
Birmingham
Alicia Keys 19th May, Cirque Du Soleil 17th-27th June and European Gymnastics 21st-2nd May at the NIA
Easter Extravaganza 2nd-5th April, Aztec Weekend 24th-25th April, Britain's Got Talent's Strike May 8th
TH13teen - the ultimate rollercoaster ride at Alton Towers
www.altontowers.co.uk
Exhibitions of the work of Ron Terada, Susan Collis and Shuraq Harb at The Icon Gallery of Modern Art from the 1st April
Darwin exhibition 23rd April, Plant Hunter's Fair 16th May and Outdoor Theatre 23rd and 29th June at The Birmingham Botanical Gardens and Glasshouses
www.birminghambotanicalgardens.org.uk
Easter Holiday Activities 2nd-18th April, May Day 3rd May and Father’s Day 20th June at The Black Country Living Museum
Mother India Weekend 9-11th April, Rufus Wainwright 20th April, Tchaikovsky & Phillip Green 5th May, Gervaise Phinn 24th May and Latin Fever 18th June
An exhibition entitled“Party”celebrates the 10 year anniversary of the New Walsall Art Gallery which houses the remarkable Garman Ryan Epstein collection
www.thenewartgallerywalsall.org.uk
Warwickshire
Horse racing at Stratford Racecourse 18th April
Shakespeare’s Birthday Celebrations 23rd-25th April
Stratford Literary Festival April 25th-May 3rd
www.stratfordliteraryfestival.co.uk
Easter Holiday Activities to 11th April, Range Rover 40th Anniversary 1st May and The Porsche Show 6th June at The Heritage Motor Centre at Gaydon
www.heritage-motor-centre.co.uk
Visit Coventry Transport Museum to see a 1929 Austin 7 Swallow and a 1962 Triumph Italia 2000 designed by Michelotte alongside the controversial 1985 Sinclair C5
Spring Sounds International Music Festival in Stratford upon Avon 28th-31st May
Rugby Decorative & Fine Arts Society Lecture - Wine and The Vine 22nd April and Toy and Train Auction 14th and 15th May at The Benn Hall
Writing and photography workshops at Garden Organic, Ryton on Dunsmore 30th June
Worcestershire
Upton upon Severn Riverside Folk Festival
The 25th Upton Jazz Festival at Upton upon Severn 25th-27th June
Malvern Spring Gardening Show 6th-9th May and Three Counties Show 18th-20th June at The Three Counties Showground, Malvern
Life Through The Lens-exhibition of work by local press photographer John James until 18th April at Worcestershire County Museum
www.worcestershire.gov.uk/museum
A Musical Marriage at The Elgar Birthplace Museum until 1st May - exhibition illustrating the influence of the poets Shelley, Byron, Tennyson and the composer’s wife poet Caroline Alice Roberts on his music
Herefordshire
Volcano! at Hereford Museum and Art Gallery 15th April
Wildflower Fritillary Guided Walk at The Lugg Meadow 17th April
Potters Wheel Workshop at Eastnor Pottery 24th-25th April
International Cider and Perry Competition at The Cider Museum & King Offa Distillery 12th May
Hereford Half Marathon 16th May
www.st-michaels-hospice.org.uk
Have a go at a variety of outdoor pursuits - The University of The Great Outdoors 1st-2nd May
Dore Abbey Music Festival 25th-26th June
Oxfordshire
The Knights of Royal England Jousting Tournament at Blenheim Palace 3rd-5th May
World’s Largest International Real Ale Festival at The Swan & Castle, Oxford Castle 7th-28th April
The Badke String Quartet at TheOxford Chamber Music Society, Holywell Music Room 25th April
Ultravox 10th April, Rufus Wainwright 26th April and Joan Armatrading 2nd May at The New Theatre Oxford
Artweeks - Oxfordshire Visual Arts Festival 8th-31st May
Dino Day 7th-15th April, Studying Climate 22nd April and Tidal Power 29th April at Science Oxford Live
Antiquities, Eastern Art & Heberden Coin Room at The Ashmolean Museum of Art & Architecture
Gloucestershire
Cheltenham Jazz Festival April 28th-May 3rd
Steam trains at Dean Forest Railway
Organ Festival at Cirencester Parish Church
www.cirencesterorganfestival.co.uk
British and Midland Championships Weekend at the home of The Bugatti Owner’s Club
Gloucestershire Warwickshire Railway, celebrating its 175th anniversary, holds its annual steam fair at Toddington Station May 29th-6th June
Chipping Campden Annual Music Festival in St.James Church 10th-22nd May
www.campdenmusicfestival.co.uk
Wychwood Music Festival, Cheltenham Racecourse including Lightning Seeds, Justin Currie and Seth Lakeman 4th-6th June
Cotswolds
Giffords Circus performing throughout the Cotswolds from May to September
Cotswold Air Show at Kemble airfield 19th-20th June
Cotswold Beer Festival at Postlip Hall near Winchcombe 23rd-25th June
www.gloucestershirecamra.org.uk/cbf
Robert Dover’s Cotswold Olimpick Games at Dover’s Hill, Chipping Campden 7.30 pm 4th June followed by the Scuttlebrook Wake street fair on June 5th
Cotswold craftsmen anniversary show at Westonbirt Arboretum 26th May-June 1st
Cheese rolling at Coopers Hill near Gloucester 31st May
Broadway Arts Festivals including an exhibition of work by John Singer Sargent 11th-20th June
News and views on the property market
10 December 2009
Market Overview
2009 draws to a close with the second and third quarters showing a recovery in house prices. Although prices are still 4.1% lower than a year ago the Royal Institute of Chartered Surveyors commented in October that this was the strongest survey result in favour of rising prices since December 2006.
Sellers are slowly beginning to return to the market but are still being outweighed by the number of potential buyers registered with estate agents which points to further modest price increases in the near future. At the same time looking ahead to 2010 there is still some uncertainty. The economy remains fragile, recent price rises could lead to a flood of properties as ‘accidental landlords’ take the opportunity to sell, and the return of stamp duty from £125,000 will impact on first time buyers.
2010 should provide buyers with good opportunities, although competition for genuinely good stock will be strong. Properties bought at the right price should certainly represent a good medium to long term investment.
