San Diego (PRWEB) September 03, 2012
Tobias issued some observations about the highest home prices seen in the United Kingdom in almost three years this week, and his opinion is that this will help home sellers because for private property sales, U.K. buyers are willing to spend more and be more competitive, which may in turn inspire sellers to look into social media marketing for real estate.
Bloomberg reports that a higher employment rate has caused an increase in housing prices across the U.K. This increase was 1.3 percent, which was the highest monthly increase since 2010 as reported by the Nationwide Building Society. The British government, along with the Bank of England, has been attempting to boost credit in order to spur home buying in a weak economy. The Bank of England and the British Chambers of Commerce in fact believe that the economy will weaken further over the next year, but they also believe that housing prices will remain stable, which will eventually boost the economy.
The Nationwide Building Society is headquartered in Swindon, England, and is the largest organization of its kind in the world. It provides banking services as well as mortgages throughout the United Kingdom. The Nationwide Building Society currently has a high credit rating and is involved in a high amount of British mortgages. They began in the 19th century as a series of mergers between smaller institutions until they gradually grew to the size they are today. After the 2008 global financial crisis, they acquired several smaller organizations that were troubled.
The Bank of England was established in 1694 during the reign of William III and is one of the oldest banks in the world. In spite of its name, it is the central bank of not only England, but the rest of the U.K. as well. In fact, it is the only organization allowed to issue banknotes in England and Wales and regulates the issuing of these banknotes in Scotland and Northern Ireland. Because it is a central bank, it is responsible for maintain financial and monetary stability throughout the United Kingdom. It has also been the model for many other central banks throughout the world.
The British Chambers of Commerce is the name of the group made up of many smaller Chambers of Commerce throughout the United Kingdom. The primary goal of these smaller groups is to promote and foster local business growth and development. The membership of these smaller groups is made up of different businesses, including branches of larger corporations as well as small businesses.
Real Estate Marketing Insider today commented on the recent news of a significant increase in housing prices throughout the United Kingdom.
About Real Estate Marketing Insider:
Real Estate Marketing Insider is a publication for real estate professionals with the primary goal of providing these professionals with tips, analysis, and strategies. REMI is based out of La Jolla, California.