Increase in activity gives market hope for recovery

Article Abstract:

The UK's building societies are beginning to offer very attractive mortgages, and estate agents report that more potential purchasers are coming forward. This means that the housing market could begin a recovery in 1996. Some observers believe that transactions could rise by 10%, although this is still lower than inflation and not sufficient to keep up with an average 7.5% mortgage rate. It is also felt that the housing and employment markets are undergoing long-term structural changes which will have an impact on people's security.

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Signs good for recovery to last through autumn

Article Abstract:

House prices in the UK are set to rise by 10% in 1997, according to Swiss bank UBS, which has revised its prediction upwards following the emergence of positive signs in the housing market. However, there are likely to be only 1.18 million house transactions in 1996, down on the earlier prediction of 1.2 million from UBS. There will still be little movement at the bottom of the market. There has been a rise in the number of potential purchasers, but deals are not being reached because sellers are asking unrealistically high prices.

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Galliard puts County Hall on market for UK buyers

Article Abstract:

Galliard Homes is now seeking to attract UK buyers to County Hall on Westminster Bridge, London, England, the former headquarters of the Greater London Council. This is being converted into 411 apartments in two courts. UK buyers are being directed to the north court, where there are 241 apartments and penthouses.

Investments, London, England, Design and construction, Buildings and facilities, Housing development, Galliard Homes Ltd.

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