In a recent battle against commercial property developer Highcross, neighbouring property owner Marcus Heaney won a long-standing fight against the recently developed Toronto Square buildings in Leeds. The building, having been purchased by Highcross a few years ago, had an additional sixth and seventh story added on to it and made available into office space. The 7,050 square foot addition was then rented out Zolfo Cooper on a 10-year lease for an impressive £27 per square foot.

Following the completion of the additional floors, however, next door neighbour Marcus Heaney filed for an injunction against Highcross for the development, saying that the addition was depriving his own property of its right to light. Initially thrown out on the basis that Heaney did nothing to complain about the development during its construction courts have recently granted him an injunction against Highcross, requiring them to pull down part of their new additions in order to grant more light to Mr. Heaney.

This move is seen as an interesting decision by many, requiring no actual financial stipulations to be paid out though action to be taken that may affect the overall business operations of both the developer and the renter in the process. At a time where commercial property and particularly the commercial mortgage sector have been under significant social stress this may prove a sound decision as it will not restrict any liquid capital available to the businesses, though at the same time many are concerned over the impact this may have upon foreign capital flows.

Currently the commercial property market throughout the UK has been caught in a steady decline, and without external interest in many areas a number of experts feel that a major dip is inevitable. This injunction, while posing no major direct financial risk, damages the business operations of not one but two separate organizations and may impact the overall sense of reliability foreign investors may have in coming to the UK with their operations.

For many people looking to escape the ups and downs of the property market in the UK they have turned to their neighbours for real estate possibilities, with primary focus on France and what it has to offer. Many novels set in quaint townships where the authors live out of traditional farmhouse villas have further helped to fuel this craze, yet unfortunately for many the ability to live out their dreams in neighbouring lands may still be just that – a dream.

Buoyed by high interest from many UK investors looking at establishing vacation homes abroad many French locations that were once thought to be highly viable for investment are, in fact, maintaining strong market value even in the midst of many other areas falling behind. This has been due in no small part to a large number of local buyers in the UK pushing for overseas mortgages from local lending establishments based upon the continued low interest rate set by the central banks along with the fact international interest in quiet retreats as a whole has risen substantially in recent years.

Prices for small, traditional homes in areas such as Province have been known to skyrocket recently into the range of £415,000 to £1.25 million, dashing the hopes of many investors and even first-time buyers looking to secure a good deal abroad in the process. Should you still wish to purchase abroad, however, it has been reported that not all areas are affected by this price bubble. In fact, just a short drive away from most "ideal locations" (30 minutes on average) sees house prices returning to what is considered to be the market norm under standard conditions, meaning that a number of options are still available for purchase provided you do not mind a small commute.

Halifax and Nationwide figures differ in their latest reports on house price fluctuations, with Halifax noting a 0.7% increase as a whole occurring in July while Nationwide has reported an overall drop of 0.5% in the same month followed by a 0.9% drop in August. Halifax has also claimed that they predict an upcoming drop in their figures going towards the end of the year as the housing market begins to cool, with prices returning to levels seen at the end of 2009 rather than continual increases as expected by many other purchasers.

The news and conflicting reports is seen by many a ill news, boding poorly for the housing market as a whole and even the commercial sector as fears of a double-dip in the market grows. This is particularly of note following reports from the Bank of England that only 48,722 mortgages were approved in August, showing a slowing trend for both residential mortgages and commercial mortgages as a whole.

Nevertheless Halifax representatives have claimed that the current trend is, in fact, a sign of a healthy real estate sector rather than an unhealthy one. Following the large boom that took please earlier this year the recent cooling is seen as an adjustment period as many locations are simply adjusting to meet the slower trend of the economy as a whole. This is especially true for many areas where bad credit mortgages and other financial support is needed as it could mean that the economic sector as a whole is finally recovering rather than simply sections developing while others flounder.

Latest figures of the overall average house price currently place homes at approximately £167,953, a roughly 9% increase over prices seen in April though still well off the peak seen in August of 2007 when house prices reached unheard of levels across the country.

The latest news shows that the housing market has recently been brought to a standstill in many areas as the number of new homes being built has dropped to its lowest level seen since the 1920s (excluding the second World War). Additionally the number of new houses made available on the market by existing home owners is dwindling fast, contributing to a glut in the supply of residences and having what is seen by all to be a major negative impact on a market that was seen as highly promising just a few short months ago.

The latest figures are particularly disheartening to many first-time buyers looking to take advantage of the still constant 0.5% low interest rates offered by the central banks for lending institutions to base their loans on, with many individuals deciding to put off starting a family until they can afford a home of their own. In fact, recent studies have shown that roughly 33% of men and 20% of women aged 20 to 34 still live with their parents, with the average age for purchasing a home for he first time now rising to an impressive (and scary, for some) 37 years old.

This recent stalling in the market is having a negative impact upon the commercial real estate industry as well, as fewer and fewer investors are willing to put their money into a field that is at high risk of crashing in the near rather than far future. This, when coupled with the fact that real estate development is responsible for creating a large number of jobs throughout the country (with the average development creating 1.5 full-time positions and four times that amount throughout the supply chain to support building construction) many businesses are worried about a wide-spread economic failure affecting all of the UK as a whole – not simply the housing industry.

Falling house prices are a major concern for all consumers in recent months as economists warn of a second property crash potentially on the way in the near future. Nationwide’s latest figures confirm this as well, with the national average of house prices falling by roughly 0.9% over the past month and more expected to be seen on the way as 2010 progresses into the traditionally slow property months of winter.

While for many first-time buyers that have been edged out of the market due to the substantially increasing house prices throughout the country this may be good news for the economy as a whole it bodes ill for many people. This is especially true with mortgage lending being stuck at one of the most difficult times ever to acquire due to rampant unemployment affecting all regions and poor credit worthiness brought on by the credit crisis limiting the purchasing power and credibility of all but the strongest consumers.

Nevertheless should a double-dip in the property market occur there is little that any central banking body can do to assist this time around. With interest rates still locked at the historically low 0.5% little room is left for a central rate adjustment, and as the property market continues to teeter on the edge of collapse even many overseas investments in various residential and commercial developments have begun to wane. This is leaving many local property holders stuck with many property locations that may end up bringing them significantly greater debt than credit and leave them with the sole responsibility to cover their finances should a major financial loss occur.

Economists and professional lending institutions are still looking into various options on how to soften the blow should another major dip occur, however at this time concerns are remaining high and less-than-optimistic as the year comes to an end and property markets are beginning to be well outpaced in terms of supply verses demand.