Asking prices for houses in the UK dropped in June, after rising consecutively in the preceding four months, a report from the property website Rightmove showed Monday. With sales volumes considerably off compared to last year, it would appear sellers are finally coming to terms with the realities of the market. The average asking price of property slipped 0.4% month-on-month in June, after rising 2.4% in May. The average asking prices declined to £226,436 from £227,441 in the preceding month. Despite the fall in June, the asking prices have increased 6% since January, Rightmove said.
The Times, which has apparently become a government press release farm, is all excited about a new mortgage product by government-owned Lloyds TSB. “First-time buyer deal breaks mortgage deadlock,” says the Times, and the lead in is “Lloyds TSB earns praise for new 95 per cent LTV.”
Investing in U.S. real estate has never been more complicated or more confusing.
Sales of existing homes in the U.S. unexpectedly rose 5.1% in February, but prices of existing homes fell another 15%. Most of the homes were sold to first time buyers, and nearly half of the properties sold (45%) were distressed in some way.
West Australia specifically set up Keystart to assist first-time buyers who may not be able to get a mortgage from a traditional lender. Why then is Keystart rorting those people?
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