UK Prime Property Sales Hit 4-year High

Lloyds TSB research found out that sales of 1-million pound properties in the UK hit its 4-year high.

According to the latest figures revealed by Lloyds TSB, the number of 1-million pounds' houses sold in the first six months of 2011 was the highest in the past 4 years.

It stood at 3,375 or 19 houses a day, which compares to 3,075 last year and 3,680 in 2007, before the economic downturn.

Evidently, the largest number of 1-million pound houses was sold in London (Fulham, followed by Hampstead and Chelsea). The other regions, where prime property was demanded by buyers, were the South East, East and the South West of England.

It is interesting to note, however, that 1-million pound property sales only constituted 1.1% and 5.7% of all house sales in the UK and London accordingly. The remaining 90+% of sales accounted for other types of property.

Commenting on the findings, Suren Thiru of Lloyds TSB, said: “Strong demand from wealthy cash-rich buyers both in the UK and from overseas, as well as limited supply of such properties, has helped to boost the level of activity at the very top end of the housing market.”
Article source - http://www.e1buytoletmortgages.co.uk/news/stamp-duty-news/uk-prime-property-sales-hit-4-year-high-4576.html

Top 20 cheapest places to retire

Rather than eking out their pensions at home, retirees are looking further afield for a better life.

No one has been credit-crunched more cruelly than Britain’s pensioners, or soon-to-be pensioners. Having banked on being able to live off a steady stream of interest from their savings, millions of people are discovering that the flow has turned into a muddy trickle.

Retirement plans are having to be revised, and more of us are investigating the possibility of selling up and moving somewhere cheaper overseas. We may have been royally stuffed by the economic situation in this country, but maybe we can live like kings in exile.

It’s clearly an appealing prospect. The website Rightmove (http://www.rightmove.co.uk/) reports that 2.5 million searches were made on its overseas property listings section in August, breaking the previous record, set in July. And a report from Lloyds TSB International Wealth says that 17 per cent of people with more than £250,000 worth of savings and investments are considering leaving Britain, against 14 per cent just six months earlier.

What’s more, the list of possible retirement destinations no longer just begins at Costa and ends at Brava. A greater variety of ports is being sought in this economic storm, as demonstrated by our collection of the world’s 20 most affordable places to retire.

Forget the declining years, these are places to spend your reclining years.

http://www.expertconveyancing.com/

Read More - http://www.telegraph.co.uk/property/retirementproperty/8841000/Top-20-cheapest-places-to-retire.html

Conveyancer banned but $2.2m missing

A PROPERTY conveyancer has been banned and forced out of business after failing to account for client funds worth more than $2.2 million.
Consumer Affairs Victoria took Supreme Court action 11 days ago to shut down Helen Kevin's Star Wool Conveyancing business in Barkly Street, Footscray.
Conveyancers handle the legal aspects of property transactions and routinely hold the proceeds of real estate sales in trust funds for clients.

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Ms Kevin, also known as Helen Nguyen, acted as a conveyancer for home buyers, many from non-English-speaking backgrounds, despite having her licence suspended since April.
Thirteen of Ms Kevin's clients were owed $2.2 million and other claims were still being assessed, Consumer Affairs said.


Read more: http://www.theage.com.au/victoria/conveyancer-banned-but-22m-missing-20111003-1l5ck.html#ixzz1aTSuGub9