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Thursday, November 30
Sterling hits 14-year high against dollar
by
Jet-to-Let Magazine
on Thu 30 Nov 2006 10:55 GMT
Sterling hit its strongest level against the dollar in 14 years on Thursday as traders continued to put pressure on the beleaguered US currency. The pound traded as high as $1.9580 against the dollar, its highest level against the greenback since its ejection from the European Exchange Rate Mechanism in ... more » Tuesday, November 28
OECD forecasts mild world economic slowdown
by
Jet-to-Let Magazine
on Tue 28 Nov 2006 10:52 GMT
The US housing downturn will provoke a "mild" but short-lived world economic slowdown next year, the Paris-based Organisation for Economic and Co-Operation said on Tuesday, as it downgraded its growth forecast for the world's wealthiest nations. In its twice-yearly Economic Outlook, the organisation charged with improving the economic prospects of ... more »
Dominic Farrell - UK Market Crash and Beware Romania
by
Jet-to-Let Magazine
on Tue 28 Nov 2006 10:15 GMT
I was hoping for a quiet few weeks in the run-up to Christmas this year, but alas, just like previous years, I don’t see any let-up until the much anticipated company Christmas lunch/party on the 20th December. This week I am off to Berlin for my first visit since 1988-1990 ... more » Monday, November 27
UK property crash on its way - David Miles, Morgan Stanley
by
Jet-to-Let Magazine
on Mon 27 Nov 2006 09:33 GMT
A housing market bust is likely within the next few years because house price growth has been grounded in unrealistic expectations of double-digit annual rises, a report by a prominent economist and former adviser to Gordon Brown will warn on Wednesday. Throwing cold water on the current housing market euphoria, ... more »
UK property prices continue to rise according to Hometrack
by
Jet-to-Let Magazine
on Mon 27 Nov 2006 09:29 GMT
Activity in the housing market has been "unseasonably strong" this month, forcing prices higher as the number of properties for sale dwindles, a report released today shows. Hometrack, the housing information business, says that house prices rose on average in November by0.6 per cent compared with the previous month, picking ... more » Wednesday, November 22
British property owners abroad leaps by 45% in 2 years
by
Jet-to-Let Magazine
on Wed 22 Nov 2006 09:24 GMT
A holiday home in the sun is a realisable dream for many Britons, as the number of people owning a second home abroad has leapt by 45 per cent in the last two years, according to a report to be published on Wednesday. Mintel, the market research group, said that ... more » Monday, November 20
US property market continues to slow
by
Jet-to-Let Magazine
on Mon 20 Nov 2006 11:54 GMT
The US housing sector continued to slow as starts in the construction of new homes tumbled to a six-year low last month as falling demand and an oversupply of unsold houses discouraged new developments. The Commerce Department said housing starts plunged 15 per cent to 1.5m last month and were ... more »
Average property prices rise 12%
by
Jet-to-Let Magazine
on Mon 20 Nov 2006 11:44 GMT
The average asking price for a house in England and Wales has risen by more than 12 per cent over the past year to £222,333, according to new figures. Rightmove, a property website, said London had experienced the greatest annual rate of house price growth. The average asking price in ... more » Tuesday, November 14
Singapore property
by
Jet-to-Let Magazine
on Tue 14 Nov 2006 09:22 GMT
Property prices are a staple of dinner party conversations across the globe. These days, some of the cheeriest chats are in Singapore, traditionally one of the developed world's more moribund real estate markets. Yet Singaporean property stocks outperformed global peers in the third quarter, generating total returns of 17 per ... more »
Sharp rise in UK buy to let repossessions
by
Jet-to-Let Magazine
on Tue 14 Nov 2006 09:17 GMT
Growing numbers of buy-to-let properties are being repossessed and offloaded by lenders at auction in a sign that investors are struggling to meet mortgage repayments as interest rates rise. Auctioneers say that properties previously owned by buy-to-let investors now make up around half of all repossessions sold at auction, even ... more » Friday, November 10
UK - London property market booms while regions stagnate
by
Jet-to-Let Magazine
on Fri 10 Nov 2006 09:34 GMT
Two distinct housing markets exist in England and Wales, according to the latest FT house price index, with a booming market in London contrasting with near stagnation elsewhere. In the third quarter of the year, London’s house prices rose at an annualised rate of 11 per cent, while Wales, the ... more »
UK interest rates hit 5%
by
Jet-to-Let Magazine
on Fri 10 Nov 2006 08:42 GMT
Interest rates hit 5 per cent and the highest level in five years after the Bank of England on Thursday raised the cost of borrowing in an attempt to curtail inflation. The move means an extra monthly payment of £21.71 for those homeowners with a repayment mortgage of £150,000, according ... more » Tuesday, October 31
Sterling hits a high against the Euro
by
Jet-to-Let Magazine
on Tue 31 Oct 2006 10:13 GMT
Robust UK housing datapropelled sterling to a 15-month peak against the euro yesterday. Already on the front foot after data from Hometrack, a property website, showed UK house prices rising at their fastest pace for two years in October, the pound extended its gains after the Bank of England said ... more »
UK mortgage approvals hit 2 year high
by
Jet-to-Let Magazine
on Tue 31 Oct 2006 10:10 GMT
The number of mortgage approvals in September were at their highest in more than two years, the Bank of England said yesterday, reinforcing expectations its monetary policy committee will increase interest rates to 5 per cent next month. The loan data are considered by analysts to be a good lead ... more » Friday, October 27
UK interest rate 'must rise twice' to tackle inflation
by
Jet-to-Let Magazine
on Fri 27 Oct 2006 08:40 BST
Interest rates will need to rise to 5¼ per cent in the coming months if inflation is to fall back to its target by the end of next year, a respected economic think-tank says today. In its latest forecast for the UK and world economy, the National Institute of Economic ... more » Wednesday, October 25
Spain: property groups build in risk of a slowdown
by
Jet-to-Let Magazine
on Wed 25 Oct 2006 12:22 BST
Over the past five years the Spanish real-estate market has exploded amid a fertile construction sector, historically low interest rates and record investment from within the country and abroad. Lately, property companies have embarked on a slew of takeovers, initial public offerings and foreign acquisitions. Some observers attribute the activity ... more » Friday, October 20
UK GDP growth beats expectations
by
Jet-to-Let Magazine
on Fri 20 Oct 2006 10:03 BST
The UK economy grew at its fastest rate for two years in the third quarter of this year, the Office for National Statistics (ONS) has said.
UK GDP grew by 0.7% between July and September, compared with the previous quarter. A rate of just 0.6% had been expected by forecasters. ... more »
Wednesday, October 18
Assetz warn of hype in Bulgaria's property market
by
Jet-to-Let Magazine
on Wed 18 Oct 2006 12:11 BST
Stuart Law of Assetz warned yesterday that there was too much hype involved in selling Bulgarian property, a view we have held at Bewarethesharks.com for the past 2 years and consequently we advised investors to avoid this market. "There have been massive amounts of misinformation because people have thought ... more »
German economy is growing at its fastest rate since 2000
by
Jet-to-Let Magazine
on Wed 18 Oct 2006 10:00 BST
The German economy is growing at its fastest rate since 2000 and companies have begun to re-hire after five years of downsizing. The German government will on Friday add just less than a percentage point to its gross domestic product growth estimate for this year, underlining the robustness of the ... more » Tuesday, October 17
UK inflation figures boost sterling
by
Jet-to-Let Magazine
on Tue 17 Oct 2006 11:49 BST
The pound jumped to one-week high against the dollar and climbed against the euro on Tuesday after Official data showed that consumer prices rose 2.4 per cent in the year ... more » Monday, October 16
FT Index shows a rise in UK property prices
by
Jet-to-Let Magazine
on Mon 16 Oct 2006 10:11 BST
London house prices have surged by nearly 10 per cent in the past year, driving up property values across England and Wales in spite of August’s interest rate rise, according to the FT house price index. Prices levelled off over the summer, but have bounced back to rise by 0.5 ... more » Tuesday, October 10
The rise of the landlord millionaire
by
Jet-to-Let Magazine
on Tue 10 Oct 2006 13:26 BST
Research published by Paragon Mortgages shows the remarkable growth of the buy-to-let business in just ten years. The average professional buy-to-let investor now owns 12 properties, usually flats or houses in city centres, worth £1.54m. To qualify as a 'professional', they have to own at least three properties and have ... more » Monday, October 9
Poland, Hungary and Czech Republic cannot afford to delay Euro
by
Jet-to-Let Magazine
on Mon 09 Oct 2006 10:00 BST
We all had a good laugh at the admission by Ferenc Gyurcsány, the Hungarian prime minister, that he lied morning, noon and night. But it is worth stepping back to look at the story behind the lies, and beyond Hungary. The 10 accession countries enjoyed seemingly miraculous economic runs through ... more »
UK country house prices soar 13% in a year
by
Jet-to-Let Magazine
on Mon 09 Oct 2006 09:00 BST
Country houses in the Home Counties are the latest beneficiaries of a recovery in the housing market, with values rising at their fastest level for six years. Rural homes of the sort favoured by City commuters leapt in value by 12.6 per cent in the past year, according to figures ... more » Friday, October 6
Dominic Farrell - Global interest rates, Eastern Europe and Cyprus
by
Jet-to-Let Magazine
on Fri 06 Oct 2006 10:47 BST
Another busy, but enjoyable week goes by. Monday we had an evening seminar in Liverpool which was well attended with some investors flying in for the night – a classic “Ryanair effect” I had 2 days in London, on the radio for one of them which I enjoyed ... more » Thursday, October 5
European Central Bank raises rates to 3.25%
by
Jet-to-Let Magazine
on Thu 05 Oct 2006 15:18 BST
European Central Bank rasies rates by 25bps to 3.25% more »
Bank of England leave rates unchanged at 4.75%
by
Jet-to-Let Magazine
on Thu 05 Oct 2006 15:15 BST
The Bank of England left interest rates unchanged at 4.75 per cent on Thursday, but the City expects another quarter point increase before the year is out. The Bank's decision to stay its hand was forecast by economists, but a recent Reuters poll showed almost unanimity in the belief that ... more » Wednesday, October 4
"Substantial correction" in US property market - Fed Chairman
by
Jet-to-Let Magazine
on Wed 04 Oct 2006 22:41 BST
A "substantial correction" is under way in the US housing market but it has not so far had a big effect on the rest of the economy, Ben Bernanke, the chairman of the Federal Reserve, said on Wednesday. The Fed chairman told the Economic Club of Washington that the decline ... more »
UK property market up 1% in September
by
Jet-to-Let Magazine
on Wed 04 Oct 2006 19:50 BST
UK house prices rose by 1 per cent in September, but activity may have reached a plateau, Halifax said on Wednesday. The stronger-than-expected figure confirms that homebuyers have yet to be deterred by August’s surprise rise in interest rates and the firm trend will not be lost on the Bank ... more » Tuesday, October 3
Martinsa bids for Spanish rival Fadesa
by
Jet-to-Let Magazine
on Tue 03 Oct 2006 10:01 BST
Martinsa, a Spanish property group, has announced an offer to buy rival Fadesa for €4bn ($5bn), potentially securing itself a stock market listing and joining a list of real estate companies seeking to raise their profile ahead of a shake-out in the overheated market. The unlisted group, led by Fernand ... more » Monday, October 2
Dominic Farrell - the effect of politics and economics on Poland
by
Jet-to-Let Magazine
on Mon 02 Oct 2006 13:08 BST
In the Jet-to-Let Bible I examine the importance of political stability and the role of government and the economy in driving sustainable property markets. I have also cautioned investors to carefully consider any investment they make in emerging markets and take investment appraisals written by companies which want to sell ... more »
Market Preview: ECB expected to raise rates this week
by
Jet-to-Let Magazine
on Mon 02 Oct 2006 08:00 BST
The latest interest rate decisions by the Bank of England and the European Central Bank, due on Thursday, provide the central events of interest this week but there will be plenty of economic data for investors to absorb. The ECB is widely expected to raise eurozone rates to 3.25 per ... more » Thursday, September 28
Nationwide reports jump in house prices - fastest rise since February 2005
by
Jet-to-Let Magazine
on Thu 28 Sep 2006 11:10 BST
The The building society said house prices rose by 1.3 per cent in September ... more » Friday, September 22
Jet to Let joy as sterling hits a 2 year high
by
Jet-to-Let Magazine
on Fri 22 Sep 2006 10:46 BST
Sterling hit a two-year high against currencies of major trading partners and a 15-month peak versus the euro, buoyed by expectations the Bank of England would raise interest rates in November, but may be due for a correction if it does not manage to break 1.9040 against the dollar. Recent ... more »
Thursday, September 21
Slower growth seen in Eurozone property prices
by
Jet-to-Let Magazine
on Thu 21 Sep 2006 15:47 BST
Eurozone house price growth is cooling markedly in parallel with a slowdown in US housing markets, according to bankers and economists. The deceleration in the eurozone has gone largely unnoticed, partly because of the lack of up-to-date and comparable statistics in the 12-country region, and is probably not as pronounced ... more »
Dominic Farrell warns against "blind" property investing
by
Jet-to-Let Magazine
on Thu 21 Sep 2006 10:22 BST
I have returned from the idyllic island of Cyprus and fabulous temperatures in the mid 30 degrees centigrade and have just completed a “Fundamentals…” course in London over the weekend. I really enjoy these opportunities to interact with so many people who have the common goal of creating wealth through ... more »
More Jet to Let buyers opt for local lenders
by
Jet-to-Let Magazine
on Thu 21 Sep 2006 10:18 BST
A growing number of overseas property buyers are financing purchases with local currency mortgages, writes Sharlene Goff in London. Lenders' criteria have been relaxed in relation to the established markets such as France, Spain and Italy, although obtaining finance in areas such as Bulgaria and Turkey is still quite tough.... more » Tuesday, September 19
Cyprus property price inflation accelerates in August
by
Jet-to-Let Magazine
on Tue 19 Sep 2006 11:29 BST
Residential house prices rose for their sixth consecutive month in August. Prices increased by 1.6% month on month in August. On a year on year basis, prices are accelerating. Residential house prices rose by 10.3% year on year in August--the highest year-on-year growth on record. Source: Financial Mirror more »Thursday, September 7
Halifax reports strong UK property price growth
by
Jet-to-Let Magazine
on Thu 07 Sep 2006 13:09 BST
UK house prices rose at a blistering rate in August, suggesting the Bank of England’s interest rate rise at the start of the month has so far done little to cool the property market. Halifax, the country’s biggest mortgage lender, on Thursday said prices rose 1.0 per cent on the ... more »
Bank of England hold interest rates at 4.75%
by
Jet-to-Let Magazine
on Thu 07 Sep 2006 13:05 BST
The Bank of England held interest rates at 4.75 per cent on Thursday, choosing not to shock markets with a rise for the second month running. Economists and investors in financial markets expected the Bank to sit tight this month and had been betting that there was almost no chance ... more » Friday, September 1
Cyprus economy continues to grow strongly
by
Jet-to-Let Magazine
on Fri 01 Sep 2006 13:44 BST
Cyprus GDP grew in real terms during the second quarter of 2006 by 3.7% year on year. This continues the robust performance of the economy and is in line with expectations. Indicative indices on the performance of various economic activities during ... more »
Dominic Farrell urges caution on some Eastern European markets
by
Jet-to-Let Magazine
on Fri 01 Sep 2006 10:23 BST
We are now back from our August break and looking forward to the rest of the year and all the investment opportunities it will bring. We had a fabulous time over the last three weeks and met some great people on our travels from Johnny Ball to P.D. James and ... more »
European Central Bank hints at interest rate rises
by
Jet-to-Let Magazine
on Fri 01 Sep 2006 09:42 BST
The European Central Bank stepped up its inflation warnings on Thursday as it hinted strongly that interest rates would rise in October, and probably again in subsequent months. Jean-Claude Trichet, the bank's president, announced significant upward revisions to the ECB's inflation forecasts for this year and next. He said "strong ... more » Wednesday, August 30
Eastern European property investment - avoid the hype
by
Jet-to-Let Magazine
on Wed 30 Aug 2006 10:59 BST
We are now back from our August break and looking forward to the rest of the year and all the investment opportunities it will bring. We had a fabulous time over the last three weeks and met some great people on our travels from Johnny Ball to P.D. James ... more » Sunday, August 6
We are now on holiday until the end of August
by
Jet-to-Let Magazine
on Sun 06 Aug 2006 23:35 BST
The team at Bewarethesharks.com are taking a well earned holiday and will be back in late August with all the latest topical issues which affect property investors. more »
UK inflation to reach highest level under Brown - 5.5% base rates?
by
Jet-to-Let Magazine
on Sun 06 Aug 2006 23:14 BST
INFLATION is set to hit its highest level since Gordon Brown became The consumer price index (CPI) will hit 2.8% by the year’s end, the highest since December 1995, and ... more »
Sterling to assault the $2 dollar mark
by
Jet-to-Let Magazine
on Sun 06 Aug 2006 23:07 BST
Sterling stole the headlines in the currency market this week, surging 1.7 per cent to a 16-month high in trade-weighted terms after a surprise UK rate rise. Some even saw the pound as primed for an assault on the near-mythical $2 mark, a level last reached in September 1992 prior ... more »
Councils woo UK buy-to-let landlords with lure of steady income
by
Jet-to-Let Magazine
on Sun 06 Aug 2006 01:01 BST
Buy-to-let properties have become an important source of supply to the private letting market over the past 10 years. Could they play a similar role in the public sector housing market? Some buy-to-let owners are reluctant to take on tenants from the public sector, fearing they might be less able ... more »
Home offices add value to your property
by
Jet-to-Let Magazine
on Sun 06 Aug 2006 00:58 BST
Running a business from home not only saves on the cost of office rental, it can add value to your property, according to figures compiled by Redbrick, a consultancy for homeworkers. A comparison of house prices undertaken by Redbrick and Homefinder UK, the property search service, found home offices add ... more »
Central Banks act to curb inflation
by
Jet-to-Let Magazine
on Sun 06 Aug 2006 00:55 BST
Reacting to fears of rising inflation, central banks across the world raised interest rates this week. Australia raised rates to 6 per cent and the Bank of England unexpectedly raised its main rate to 4.75 per cent. Jean-Claude Trichet (above), European Central Bank president, followed shortly afterwards with a move ... more » Monday, July 31
Beware non-regulated property investment funds
by
Jet-to-Let Magazine
on Mon 31 Jul 2006 22:40 BST
I am often asked, "What do you think of XYZ property investment fund?" My answer is always, "Is it regulated by the Financial Services Authority (FSA)? If the answer is "Yes" I will then ask for the details, pricing, weighting, fund manager's experience etc..............make a few comments and then invite ... more »
Lending data confirms pick up in UK property market
by
Jet-to-Let Magazine
on Mon 31 Jul 2006 11:24 BST
The renewed vibrancy of the UK housing market was confirmed on Monday after official data showed the number of mortgages granted at their highest level since the start of the year. However, the same report also showed that consumers are proving ever more reluctant to borrow on their credit cards.... more » |
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