Would you consider buying a UK property today?
At this moment in time it seems that survey after survey after survey is suggesting an increase in UK property prices and UK property transaction numbers. However, would you, or do you know of anybody, consider a purchase of a UK property at this moment in time?
Sometimes it is difficult to understand on what these surveys are based, who exactly has been spoken to and ultimately if there is a possible angle from the underlying sponsors. At this moment in time, despite words of encouragement from the estate agency sector, there does not appear to be much movement in the UK property market. House price movements are seen by many as being very sporadic and focused upon particular niche markets around the country. The problem for many is that when the market collapsed it did so in different areas at different times and therefore it is likely to be the south of England which recovers first with the improvement slowly spreading northwards.
We need to see more regional property surveys to get a full picture of what is exactly happening on the ground and what we can expect in the future. Many homeowners are falling under the spell of negative equity and finding it very difficult to shake off this particular problem even in areas where property prices are starting to firm up.
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