The UK’s property market occupies a central role in both domestic and global investment planning, owing to its historic strength and reputation for delivering reliably healthy returns. However, at the onset of the 2007 global financial crisis, some speculators began to consider whether the market would be able to recover to its former glory.
In the immediate aftermath of the economic crash and recession that followed, the property market faltered. Banks became more risk averse, with mortgage lending in particular showing signs of slowing down as stricter regulations were implemented for lenders seeking to approve potential borrowers. Figures from the Council of Mortgage Lenders (CML) in 2009 showed that mortgage lending to property investors had declined by as much as 43% in the space of 12 months after the initial shock had set in. Meanwhile, house prices across the UK fell by 16.2% in 2008 alone.
However, what has since followed has been a remarkable return to strength of the UK’s globally-renowned property market.
To highlight the performance of the real estate industry in the decade that followed the crisis, MFS has released a new report examining how the UK’s property market and bridging sector have overcome adversity to flourish in the past ten years.
Delving into the performance of property prices across the nation, the report provides valuable insights for investors seeking to understand the long, medium and short-term performance of the UK property market. What’s more, the paper sheds light on the increasingly important role played by bridging lending in supporting ongoing demand for property as an investment option in recent years.
Download your copy of our new report ‘The 2007 Global Financial Crisis Ten Years On: A Decade of Growth for UK Property and Bridging’ here.