Repos on the rise!

The number of repossessions in the first quarter of 2011 rose for the first time in a year, and were up 17% to 9,613.

Meanwhile, the mortgage drought continues.

The statistic on possessions is in the Financial Services Authority mortgage lending data covering the first three months of this year and published yesterday.

The data paints a picture of a housing market that remains stubbornly at a standstill, with new advances totalling £33bn, 10% lower than in the last quarter of last year although 3% up on the first quarter of 2010.

But house purchase mortgages accounted for just 54% – a reduced share – of new mortgages.

Only 2% of all new mortgages were given with a loan to value above 90%.

Borrowers with impaired credit histories struggled to get anywhere at all with lenders, receiving just 0.3% of all loans.

While possessions were up, the number of new arrears in the first quarter was down 8% on the last quarter of 2010. The total number of arrears cases stands at 337,000, 2% down on the last quarter of 2010 and 7% down on quarter one 2010.

David Brown, commercial director of LSL Property Services, the parent company of Your Move and Reeds Rains estate agency chains, said: “Transactions are currently running at less than 61% of the long-term average, which is an indication of just how quiet the housing market currently is.

“According to our research, the greatest fall in transactions has been for flats, which are the property type most frequently purchased by first-time buyers.

“They’re being hardest hit by the mortgage drought. Despite the number of mortgages currently offering repayment rates below 3%, lenders are still exercising caution when giving mortgages to those with limited deposits.

“The greatest fall in transactions appears to be in the South-East and London, where property prices have grown by 2.6% and 7.4% respectively in the last year, while northern England, where prices have fallen by 2.6%, is the only region to see growth in transactions.

“These transaction figures may be the first sign that the regional house price picture in the UK may be about to reverse as prices in the South-East are reaching a peak.”

Meanwhile, the National Association of Estate Agents issued an uncharacteristically gloomy report which referred to ‘stagnation’ in the housing market.

Wendy Evans-Scott, President of the NAEA, said: “Our members have likened the housing market to an obstacle course, with many falling at the first hurdle as the finance required to buy just isn’t available.

“The banks must find a balance between the loose lending of the boom and the rigidity of the current lending rules. House buyers need the Government to act in a sensible and proportionate way by encouraging the banks to offer adequate financial help to buyers.”

In 2006, there were 1.66m housing transactions. Last year, there were 886,000. This year, the Council of Mortgage Lenders has lowered its prediction to 840,000.

13.9 million surge on to property portals – but why?

More people than ever are going online to search for property – despite transactions dragging along the floor.

According to comScore, an independent analyst, an extra 2.2 million property searchers went online last month, compared with the figure for May of last year.

Altogether, there were 13.9 million visitors looking for UK property.

The real estate category growth saw each of the top three portals growing their unique visitors, with the fastest growing being Digital Property Group, which produces Primelocation and FindaProperty, where monthly unique visitors rose by 42% on April.

Figures from comScore give Digital 4.8 million visitors, and Zoopla 3.4 million visitors, up 25.7% on April’s traffic.

However, neither came close to Rightmove, which had 6.6 million unique visitors in May, a 16.4% increase on April.

Sheraz Dar, Digital’s marketing director, said: “All the main portals have committed to marketing in spring, so these figures provide a transparent comparison of campaign performance.

“DPG’s marketing investment is delivering dividends, outstripping its nearest competitors, and most importantly, achieving positive results for its member agents.”

Home ownership out of reach for millions of Britons as Generation Rent takes hold

As more households become part of "generation rent", high housing costs are leaving individuals with little spare cash to make ends meet, leaving them exposed to rising living costs and hitting their ability to save for the future.
When utility bills, council tax and insurance are taken into account, individuals renting in London are left with as little as 25% of their net income after housing costs. 
In a survey carried out by YouGov for the Chartered Institute of Housing, 21% of respondents overall said they were spending more running their home than they could afford - equivalent to just over 10 million people in the UK.
A higher proportion of people living in private rented homes (31%) said they were paying more than they could afford.
People living in Yorkshire and Humberside are most under pressure, with 32% struggling with housing costs, and people aged 25-34 (27%) and those with children living in the household also finding it hard to cover the cost of running a home (26%).
Research by the CIH and Hometrack to explore this problem showed that renting on your own is almost as expensive as mortgage repayments on an equivalent property, leaving little scope to save up for a deposit.  With typical deposits for first-time buyers at 20% of purchase price, this can mean finding a lump sum of between £18,376 in Northern Ireland and and £58,788 in London.
Single renters who have no other cash injection and save only the difference between renting and mortgage payments towards a typical 20% deposit would take tens or in theory hundreds of years to save, putting home ownership beyond their reach.
And with gas and electricity bills on the rise again in 2011, single people’s disposable income will shrink further.
According to figures compiled by CIH and Hometrack, renting is currently between 83-100% as expensive as the repayments on a mortgage on an equivalent property, based on two-bedroom dwellings likely to appeal to first-time buyers.
In two regions, the North East of England and the West Midlands, renting was more expensive than mortgage payments. In city centres rental prices can reach much higher levels, with individuals paying a significant premium to live close to their place of work.
If single renters tried to save up the deposit for a typical two-bedroom dwelling over five years they would have barely enough to live on to cover essential living costs. In Scotland and the East Midlands single renters would be left with £484 per month for living costs and in the South East £112 per month.
CIH Chief Executive Sarah Webb said: "We already know that the deposit barrier means more people are becoming part of 'generation rent' whether they want to or not.
"As demand for housing continues to massively outstrip supply the cost of renting a home is also increasing, and we need to understand much more about what this means for households and the wider economy.
"More and more people are struggling to meet their housing costs, let alone save for a deposit. We need government to recognise how unaffordable housing costs are for many people, not just in terms of becoming a homeowner, but covering day-to-day essentials.
"If people are to save for a rainy day, avoid reliance on the public purse, put money into their local economy, and avoid ill health caused by financial worries and unsuitable housing, we need national action to improve affordability across the housing market."

3.5m homes bought in last 5 years worth less than purchase price

New research from property website Zoopla.co.uk shows that 4 out of 5 homes purchased in Britain since 2006 have a market value today below their purchase price.
Of the 4.32 million homes purchased since 2006 and where the ownership remains the same, 3.5m (80%) of these homes are ‘underwater’ (worth less today than their purchase price).
According to Zoopla.co.uk, which lists over 17 million previous sale prices and provides current value estimates for every UK property, those worst affected are the homeowners who bought at the peak of the market. 93.2% of homes bought in 2007 and 88.9% of those bought in 2008 are now ‘underwater’.
Over the last 5 years, buyers who have fared best are those who bought in 2009, having successfully timed the bottom of the market during the recent downturn.
At a regional level, the North East of England is the worst affected area, with 93% of properties purchased since 2006 yet to climb back to the values paid for them by their owners.
At the other end of the scale, less than half (46%) of homes bought over the last 5 years in London are now valued below their purchase price, underlining how much more resilient the capital has been to the property downturn versus the rest of the country.
Nicholas Leeming, Business Development Director of Zoopla.co.uk, said:
“There is an unprecedented number of homeowners ‘stuck’ with homes they bought in recent years with the expectation that prices would continue to sky-rocket. And as a result of not wanting to take a loss on their asset, many owners have been unwilling to set realistic asking prices to sell them. The London market has been unique and bounced back very strongly from the recent market lows of 2009.”

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L27  Healey Close                    2 bed apt                £390
L9    Honeysuckle Drive           1 bed semi              £395
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L13  Moscow Drive                 2 bed apt                £450
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Call Amy 0151 733 7101
email Lettings@REWProperty.co.uk
or check http://www.rewproperty.co.uk/

'Tenants from hell' claim human rights over eviction

The European Court of Human Rights is to scrutinise the legality of eviction procedures used by social landlords in the UK.

Although the case specifically affects local authorities and social housing organisations, it will be watched with interest by private landlords, who fear it can only be a matter of time before private tenants start claiming ‘human rights’.

Article 8 of the European Convention on Human Rights says that people have the right to ‘respect for private and family life’.

In the case, Blackpool council tenants Paul and Amanda Wilkes were evicted in 2007. They have now gone to the European Court of Human Rights, which will rule on whether their eviction violated their human rights.

The Wilkes family, including their two children, had their tenancy terminated following 57 incidents of alleged anti-social behaviour, including threatening to kill a neighbour and threatening to burn down a block of flats. They themselves have admitted they were 'no angels'.

They have spent four years going through the courts, funded by legal aid, but all refused to rule that the Wilkes’ rights had been breached.

They then secured legal aid to take Blackpool Council to the European Court of Human Rights.

The Strasbourg court will specifically want to establish whether the decision to evict the family was ‘proportionate’.

The case follows a Supreme Court ruling involving another council tenant, Cleveland Peck, in Manchester. Although he lost his case, the court specifically referred to human rights legislation and the requirement that any eviction must be ‘proportional’.

New mortgage deal would give buyers 20% deposits

An extraordinary plan has emerged to revolutionise the mortgage market by bankrolling house buyers.

Aimed at both house movers and first-timers, it would give them a 20% deposit in return for a 40% share of any profits from an eventual sale.

It would also share any losses if house prices fell.

Behind the venture, Castle Trust, is Sir Callum McCarthy, a former chairman of the Financial Services Authority, and US private equity firm JC Flowers.

McCarthy chaired the FSA between September 2003 and September 2008, and at one stage was hauled before Parliament to defend the FSA’s handling of the Northern Rock crisis.

JC Flowers entered Britain’s financial services sector last year by investing in Kent Reliance Building Society and turning it into a bank. It has made clear its plans to do more deals.

McCarthy became European chairman of JC Flowers in November 2009.

Under the new plan,  Castle Trust would raise the money for the deposits by selling bonds to investors. Their returns would be dictated by the Halifax house price survey. Investors could take out stakes from £1,000.

While the business model has yet to gain approval from the FSA,  it would not need a full banking licence.

Castle Trust says its management team has “extensive investment and mortgage industry experience”.

McCarthy has recruited a heavyweight board, including John Gummer, now Lord Deben, who is chairman of the Association of Independent Financial Advisers. Dame Deirdre Hutton, a non-executive director of the Treasury and ex-chairman of the National Consumer Council, is also on the board.

McCarthy says that Castle Trust is structured in such a way that JC Flowers will make money regardless of whether house prices go up or down. JC Flowers has pumped £100m into the venture.

McCarthy said: “This is something genuinely innovative.

“There are thousands of people struggling to get on the housing ladder, or struggling to raise the deposit to move into a bigger house to cope with a growing family.

“Then there are people who want to invest in the housing market but don’t want to get caught up in the complications of a buy-to-let property.

“We’ve found a way to intermediate between those two groups of people, and that could become something quite powerful.

“It does sound too good to be true. We all had the same reaction when we looked at it. But we’ve spent two years modeling this.”

Property Tracker shows slight positive outlook for Housing market

The June 2011 Building Societies Association (BSA) Property Tracker survey indicates that consumers are slightly less negative about the outlook for the housing market.
The proportion that did not think that it is currently a good time to buy dropped to 21% from 29% in March. 41% think it is a good time to buy, the same proportion as in March.

Though it remains one of the main factors holding back prospective buyers, the proportion selecting a lack of job security fell by 9 percentage points compared to the previous survey, being chosen by 48% of respondents in June. And the proportion concerned about future falls in property prices reduced by 5 percentage points to 19%. Meanwhile, raising a deposit attracted the highest proportion this barrier has achieved since the Property Tracker began, being selected by 62% of respondents. Obtaining a sufficiently large mortgage was also a significant barrier, with 53% of respondents saying this was an impediment.
Paul Broadhead, Head of Mortgage Policy at the BSA, said:
“There appears to be a little less negativity in consumers’ opinions on the housing market, but it remains to be seen whether this is just a blip or the start of a trend. People are a slightly less nervous about the outlook for the jobs market, and are less inclined to think that house prices are going to fall. For the first time since September last year a greater proportion of respondents think that house prices will rise rather than fall in the following 12 months.
“And more people think that raising a deposit is a barrier to buying property, which though unsurprising when considered against the ongoing squeeze on household finances could indicate that more people are looking at getting into the market. This barrier to potential buyers might reduce in the months ahead as a greater number of higher LTV products come onto the market."

Renting more expensive than buying in 8 out of 10 British cities

Renting a home in Britain is currently 9.7% more expensive than owning on average.
And it is cheaper to buy instead of rent in eight in ten of the 50 largest towns and cities across the country, according to the latest research from property website Zoopla.co.uk.
The research looks at the current asking prices and rents of two-bedroom flats around the country and assumes interest-only mortgage payments of 5% p.a. to provide a comparison to the cost of renting.
The range of results by location provides some very interesting insight into where it is best to rent instead of buy and vice versa. Milton Keynes tops the list of places where renting is the far less attractive option with average rents exceeding the cost of servicing a mortgage by a staggering 43%, leaving renters there on average £2,964 per year worse off compared to owners.
At the other end of the scale, it is currently much more cost effective to rent in Poole than buy with renting 27% cheaper and the average tenant better off by £3,240 per year by renting instead of buying.
Even in London, which has by far the highest property prices in the country and where the average 2 bedroom flat is going for £431,366, buying is still 16% more cost-effective than renting.
With average rents at £2,137 per month in the capital versus an average cost of a 5% interest-only mortgage at £1,797 per month, renters pay an extra £4,080 annually compared to owners.
Nicholas Leeming, business development director of Zoopla.co.uk, said:
“The relative cost of renting as opposed to buying has increased over the past 12 months as rents have risen and house prices and interest rates have remained flat. Almost 750,000 would-be first-time buyers have reluctantly ended up as renters over the past 3 years as a result of being unable to get a mortgage. With current house prices and interest rates where they are and with rents on the rise, for those who can get a mortgage, there may never have been a better time to buy.”

Mortgage products triple for first time buyers

The number of mortgage products available to first-time buyers has almost trebled since June 2009. There are currently 183 deals designed for those taking their first steps onto the property ladder, compared to just 62 in June 2009.
As the number of first-time buyer deals has increased over the past two years, the average rate has reduced.
Louise Holmes, spokesperson for Moneyfacts.co.uk, said: "First-time buyers are often considered to be the life-blood of the housing market. As well as high mortgage rates, many borrowers have found it incredibly difficult to find funds for large deposits, often entirely beyond their financial capabilities.
"Higher loan-to-value mortgages have made a return to the market over recent months, suggesting lenders are taking positive steps to help the first-time buyer market. In fact there are currently 31 deals with 95% loan-to-values, an increase from just six deals in June 2009.
"These positive figures should offer some hope to those who dream of owning their own home."

Half of landlords will cut back on letting to benefit tenants

More than half of private landlords are planning to cut down on letting to tenants on housing benefits.

The finding is in a survey by the National Landlords Association and comes as the Welfare Reform Bill reaches its report stage in the House of Commons.

A key part of the Welfare Reform Bill is that Local Housing Allowance, which is paid direct to tenants on housing benefit, will be reduced from average market rents to the bottom 30%.

The poll questioned landlords about LHA, with 58% saying they would have to cut the number of properties they let to benefit recipients. In total, 90% of these landlords plan to do so in the next 18 months, with one-third stating they would be reducing their LHA properties immediately.

More than 80% of landlords expressed concern about the reduction of LHA rates and the same number of landlords were also worried about future LHA increases being linked to the Consumer Price Index rather than true market rents.

The survey found that 90% of landlords stated that they cannot afford to reduce their rents to absorb changes to LHA. The large majority of landlords said this was because they are faced with mortgage repayments and rising running costs.

David Salusbury, NLA chairman, said: “These findings are concerning as they indicate that cuts to LHA benefits are forcing landlords out of this part of the rental market. 

“The private rented sector is playing an increasingly important role in providing accommodation to housing benefit recipients in the UK. The Government is implementing cuts which, this survey tells us, is likely to lead to an increasing number of people struggling to pay their rent.

“The NLA believes there is a risk that the Government’s policies will result in fewer affordable rental properties available to vulnerable families across the UK, especially as the number of people claiming benefits continues to rise.

“Benefit payments must ensure that LHA tenants are not left at risk and that landlords providing this much-needed housing can cover their costs.”

Housing market at 'tipping point' as buyers fail to materialise

The housing market appears to be at a tipping point, with sales faltering and potential buyers thin on the ground – whilst rentals flourish.

Two new surveys both tell the same story.

According to the Royal Institution of Chartered Surveyors, the traditional spring bounce has failed to materialise.

Its latest report, published this morning, says that sales in May fell back on April’s levels. In the three months to May, the average RICS estate agent sold just 14.7 properties.

The average number of properties listed climbed by 8.1% to average 71.3 per office, but new buyer inquiries slipped by 2%.

House prices barely moved, according to the RICS survey. Although surveyors reported falls outside London, the declines were within the margins of 0% to 2%.

RICS housing spokesperson Ian Perry said: “Buyer interest in purchasing property remains flat across much of the country and there is little sign of this changing any time soon. Uncertainty over the economic outlook remains as important as the availability of mortgage finance in depressing demand.

“On the other hand, the appetite to rent is continuing to grow. And, with little new supply coming on to the lettings market, the cost of renting is increasing and will continue to do so.”

In the other housing market survey, from the property portal Home, which aggregates listings from virtually every estate agency website and portal, a similar picture emerges.

It says that houses are now taking longer to sell, staying on the market an average of 109 days, while the number of properties on the market which have had their prices reduced rose to 88,815 – 34% more than in May and equating to 12% of all properties on the market.

The Home survey said that home buyers with cash or large deposits are becoming rarer, although buy-to-let investors are active.

Dubai - Over 200 Real Estate Projects cancelled in the last 2 years

Over 200 real estate projects in Dubai have been cancelled in the last two years as the emirate’s real estate sector slumped as a result of the global economic downturn, official figures show.

According to data from Dubai’s Real Estate Regulatory Authority a total of 217 property projects were cancelled as of the end of May out of 450 projects that were reviewed.
The figures give an idea of the extent of the slump which has seen property prices fall by up to 60% in some locations. RERA added that it expects 237 out of the total reviewed to eventually go ahead.
It also revealed that the total value of property sale transactions plunged to AED119.5 billion at the end of last year from AED152.9 billion a year earlier.
Residential property prices in Dubai, the worst performing market in the Middle East for the past three years, haven’t yet benefited from political turmoil in other parts of the region as some analysts predicted.
Residential property prices fell another 1.2% in May from the previous month and rents have fallen by 1%, according to the latest price report from Deutsche Bank. It also found that apartment prices dropped 1.3% percent and villas were down 1%.
The emirate is trying to revive its property market and make it more mature and transparent. One case of the property crash was the huge amount of speculation that was going on and after the economic downturn lenders became reluctant to lend. Now they are being encouraged to offer more finance to developers and buyers.
Dubai’s Land Department is set to introduce tighter rules for real estate surveyors in a bid to clamp down on inflated property valuations. The plan is to force unqualified surveyors from the market in a move aimed at ensuring real estate valuations accurately match the worth of the property.
‘We working on legislation to allow us to regulate valuers and register them. The date of release is yet to be confirmed, but we provided the draft legislation two years ago and we are nearly there,’ an official said.
Many buyers who bought property in the pre-2008 boom years have now found their valuations were grossly inflated, leaving them facing huge mortgages or the risk of foreclosure.
‘During the boom times, many banks and institutions were lending vast amounts of money to developers and speculators alike off the back of one or two page valuation reports produced by non-professionally qualified valuers, who often gave opinions of worth as opposed to market value,’ said Samuel Morris, real estate manager for the Middle East at Deloitte.

Housing Developer required to Build 177 Homes in Liverpool (£14m)

A developer is being sought to breathe new life into 177 inner city homes in Liverpool.

Liverpool City Council is inviting expressions of interest from developers to refurbish vacant council-owned properties in the Kensington, Granby and Picton renewal areas
The works, which have an estimated value of £14m, will bring 177 vacant homes back into use as part of a major refurbishment and rebuild programme. The selected organisation/s will finance the work.
The council is looking to improve the quality of housing for local residents, widen choice and provide a better mix of affordable properties for sale or rent.
Liverpool City Council’s cabinet member for housing and community safety, Cllr Ann O’Byrne, said: “In such difficult economic times, it’s more important than ever that we find new and innovative ways of improving our housing stock. These plans reaffirm our commitment to continue working with partners, to attract vital investment and bring vacant properties back into use, despite the Government’s scrapping of the Housing Market Renewal scheme.
“We are looking forward to identifying first-class organisations to work in partnership with the council and stakeholders to deliver exciting change in these areas.
The project has been divided into three separate lots. Once covers four streets i the Granby renewal area, one covers a group of pre-1919 terraces in Picton near Liverpool Women’s Hospital and one features similar properties in Kensington.

FOR SALE - 14 Acre TV Centre, available from 2015

FOR SALE - BBC Television Centre

Television Centre, the landmark west London home of BBC television and news, has gone on the market.

The corporation said it was inviting bid proposals from people looking for a conventional, freehold property or those interested in a joint venture.
The latter could see listed parts of the building preserved in a "hub for creative businesses and a visitor destination".
The doughnut-shaped building first opened in Shepherd's Bush in 1960.
Among the shows recorded in its studios were Fawlty Towers, Monty Python's Flying Circus, Blue Peter and Strictly Come Dancing, as well as earlier series of Doctor Who.
The site is also home to the Blue Peter garden, which will be relocated to a studio roof at the Salford site.
The BBC said the main aim of the sale, first announced in 2007, was to maximise the site's value to the BBC and licence fee payers.
The 14-acre site, where 5,000 staff are based, is expected to be empty by 2015.
Chris Kane, head of BBC Workplace, said: "With high investor demand for commercial property in London and a shortage of landmark sites as distinctive as Television Centre, we anticipate strong competition for both conventional and innovative proposals."
Richard Deverell, W12 programme director, said: "Television Centre has played an extraordinary and central role in the history of the BBC, which will not be forgotten."
BBC News is set to move to central London next year while BBC Sport, children's programmes and TV's Breakfast are moving to Salford, Greater Manchester.

A Selection of To Let Properties

A selection of To Let Properties that have recently come on the market. Call us on 0151 733 7101 to speak to one of our experts and to book a viewing of any of our properties. We have one the best selections of properties available for rent in Liverpool. We range from £300 to £2500 pcm and cover the whole of Liverpool.

Latest edition of the Liverpool Property Paper

The Property Paper
The best hardcopy Property advertising in Liverpool, in our opinion, is The Property Paper 
It comes out every 2 weeks, has about 32 pages of properties for sale and for rent across all of Liverpool, some great articles and the best bit.....its FREE!!

Over the last year or so its become the must have paper for all with an interest in Property in Liverpool. The latest edition is out and has an electronic copy here CLICK HERE

Collect your copy from shops and offices all over Liverpool, or come to our offices at 3 Allerton Road, Liverpool L18 1LQ or Woolton office at Salisbury Lodge 22b Woolton St L25 5JA (in the centre of the village opp HSBC)

Or come to this blogsite and collect your electronic copy every 2 weeks!

Todays Property news

Housing transactions to drop further this year

Abnormal housing market has lasted six years says agent

Mortgage approvals fall to record low says Bank of England

No such thing as a bad idea says Rightmove

Landlords unworried by rise in interest rates

CML say Repos on the rise

UK Housing Market Predictions

PropertyTalk report that Britain is home to a generation of renters who are giving up on buying their own property, an in-depth new report has revealed.

If these attitudes become reality, the shape of Britain's housing market will be fundamentally changed within a generation.
According to the report - the most in-depth research into the attitudes and behaviour of young people toward home-ownership since the credit crunch - 77% of all non-homeowners still aspire to own a home.
However, despite this aspiration, nearly half of 20-45 year olds say Britain is becoming more like Europe where renting is seen as the norm and predict Britain will become a nation of renters within the next generation.
Commissioned by Halifax and produced by the National Centre for Social Research (NatCen), the report analysed the results of a survey of 8000 20 to 45 year-olds, and identified the emergence of "Generation Rent": two thirds (64%) of non-homeowners who believe they have no prospect whatsoever of buying a home.
The perception that banks are not lending, the size of mortgage deposits necessary, and a fear of the application process has prevented "Generation Rent" from making any significant attempts to buy a home. Longer-term, only 5% of this group are making sacrifices to save for a deposit. Some 95% say they have no spare cash, no interest in saving for a deposit or were trying to save but failed to do so.
Stephen Noakes, Commercial Director, Halifax Mortgages, said: "Our research indicates just how many potential first-time buyers are not making it to the application stage because of a fear of being declined."
The report revealed widespread pessimism about lenders and the mortgage application process:
* 84% say first-time buyers are put off by a belief that banks do not want to lend to them and find excuses to turn them down;
* 92% see it as hard for first-time buyers to get a mortgage, with 60% seeing it as very hard or virtually impossible;
* 67% believe there is a general perception that everyone is rejected by lenders so there is little point in applying;
* 61% say that first-time buyers do not want to go through the stress and anxiety of applying for a mortgage.
Alison Blackwell, NatCen report author, said: "The phenomenon of Generation Rent could have major socio-economic implications. It would mean fewer homeowners being able to buy and therefore fund the construction of the new homes required in the UK to meet demand, resulting in a slowing down in the housing market.  It could open up a widening of the wealth gap that already exists between home-owners and non home-owners.  And people in Generation Rent risk insufficient finances at retirement."

Report from PropertyTalk

The Property Paper (Liverpool)

The Property Paper in Liverpool

The Property Paper

The best hardcopy Property advertising in Liverpool, in our opinion, is The Property Paper 
It comes out every 2 weeks, has about 32 pages of properties for sale and for rent across all of Liverpool, some great articles and the best bit.....its FREE!!

Over the last year or so its become the must have paper for all with an interest in Property in Liverpool. The latest edition is out and has an electronic copy here CLICK FOR YOUR COPY

Collect your copy from shops and offices all over Liverpool, or come to our offices at 3 Allerton Road, Liverpool L18 1LQ or Woolton office at Salisbury Lodge 22b Woolton St L25 5JA (in the centre of the village opp HSBC)

Or come to this blogsite and collect your electronic copy every 2 weeks!