Buyers move into pole position in housing market
At the start of 2010 there were high hopes for the UK property market with signs that the market was stabilising and looking to move ahead in the short to medium term. However, problems in the European economy, liquidity issues and concerns about the UK economy, in particular ahead of the budget, have had a massive impact upon sentiment. It now looks as though buyers are in the ascendancy although many remain on the sidelines under the impression that house prices will fall in the short-term.
We're now in a situation whereby constant negative comments about the UK housing market are playing upon the fears of UK house buyers and sellers. It seems only a matter of time before we see a significant reduction in property prices and if you were in the shoes of a buyer would you really rush in?
It will be interesting to see how the UK property market performs in the short to medium term against this background of constant negative news and concerns about the underlying state of the marketplace. However, one thing looks almost certain, the power of buyers is now in the ascendancy and sellers may well have to work harder and reduce their prices to secure a sale in the short-term.
Share this..
Related stories
Fivefold increase in property millionaires over last decade
Santander, the owner of Abbey and other UK banking brand names, has today issued a report suggesting there has been a fivefold increase in the number of property millionaires in the UK since 2000. Despite the fact that the credit crunch has impacted heavily towards the top end of the market, the bank estimates that there are around 132,000 "million pound" properties in the UK at this point in time...
Read MoreTop ten tips for selling your house
With the housing market slackening off and people being put off buying by high prices and rising interest rates, vendors are finding it harder to sell their properties.With this in mind, a survey by Nationwide has looked for the factors that will help vendors sell their home.The came up with the following top ten tips:1. Tidy up - 55 per cent of potential buyers said an untidy house was off puttin...
Read MoreFinancial Services Authority steps in regarding sale and rent back adverts
The Financial Services Authority (FSA) has today stepping to call time on heavy-handed sales practices within the sale and rent back sector. This is an area of the market which has shown significant growth in the short to medium term due to the fact that many people are behind on their mortgages and need cash as quickly as possible. To these people, the potential to sell their homes, organise a re...
Read MoreImproving the attractions of your home with a lick of paint
Even in the current downbeat property market if you're looking to sell your home you need to ensure that it stands out from the rest and offers good value for money. While surveys and the like will show any potential structural damage or issues in this area it is well-known that the vast majority people will fall in love with their future home simply by looking around.
As a conseque...
Nationwide predicts another interest rate rise
Despite February's interest rate level not having risen, financial experts have predicted that homeowners could still see an increase very soon.Economists at Nationwide building society have forecast that the bank will increase the interest rate in order to bring it in line with house price inflation. Nationwide figures show that the average house price is has increased to £174,706 - a rise of £...
Read More