United Kingdom
Mayfair Evolves and Real Estate Prices Blossom
LONDON — What could be more English than Mayfair? Elegant Georgian townhouses and solid Edwardian mansions line the streets of this sophisticated neighborhood, which has been a haven for the rich since the Great Plague and then the fire of 1666 drove the capital’s aristocracy out of the City of London and into the area to the west.
Think tank calls for new home cash incentives BBC News 31.08.2010 | First-time home buyers 'fall sharply' AFP 30.08.2010 |
 Big cash incentives should be offered to people living in areas of England where developers want to build new homes, a think tank suggests. |  LONDON — The number of people trying to buy their first home dipped sharply in the past twelve months, a report said on Monday. |
Homes shortage drives up rents Oxford Mail 30.08.2010 | |
 RENTS across Oxfordshire are rising because of a shortage of homes available to let, a survey has found. |  Hundreds of prospective property buyers in Northern Ireland have been thrown a lifeline after a landmark legal judgment ruled that a man who had agreed to purchase a flat during the property price boom cannot be forced to honour the contract. |
Prime property prices fell in AugustJun Merrett Financial Times 28.08.2010 | Chinese investors eye properties in London What House 28.08.2010 |
 The average price of prime property in the UK fell by 0.3 per cent in August, further evidence that the strong recovery in the prime property markets has stalled. |  Chinese investors are expected to replace Russian buyers as major players in the prime central London property market as the number of super-wealthy individuals continues to grow rapidly in the country, new research from CB Richard Ellis revealed. |
Are first-time property buyers the key to the UK economic upturn? Financial Advice 27.08.2010 | London Prime Real Estate Is Well Insulated Against Market Turbulence Property Wire 27.08.2010 |
 At this moment in time the first-time buyer of property in the UK is a very rare commodity as mortgage lenders look to pull up the drawbridge and reduce their short-term risks. Despite the fact that we have seen an increase in the number of first-time property buyer mortgage options over the last few days this is not a trend which the vast majority of mortgage lenders in the UK have yet taken up. Many appear happy to sit on the sidelines and reduce their own risk/reward ratio while the UK property market continues to struggle. |  London's prime property is uniquely positioned to weather turbulence in the UK market, relying on an insulated buying segment attracted to its historical appeal as a secure investment. While lending constraints, supply issues and economic malaise impact the broader UK real estate market, only the most expensive prime property has responded with price cuts. See the following article from Property Wire for more on this. |
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