To buy or not to buy
South East reports 'mixed news on housing market'
The Royal Institute of Chartered Surveyors found the average number of transactions per estate agent in the South East over the last three months was just 11, the lowest since 1978. This is slightly lower that the national figure, which stands at 12.7 transactions over the three months.
If the price is right
Whilst the outlook appears grim, there is a growing confidence amongst home buyers that 'now is a good time to buy'. There are a lot of good deals around as more repossessions and new builds come on the market.
The Royal Institute of Chartered Surveyors found the average number of transactions per estate agent in the South East over the last three months was just 11, the lowest since 1978. This is slightly lower that the national figure, which stands at 12.7 transactions over the three months.
If the price is right
Whilst the outlook appears grim, there is a growing confidence amongst home buyers that 'now is a good time to buy'. There are a lot of good deals around as more repossessions and new builds come on the market.
- posted by The Editor
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Many house builders will also take your home as part exchange as well as pay your moving costs too!
I read yesterday that INFLATION surged to it's highest rate for 16 years as shares continued to nosedive in the turmoil sparked by the collapse of Lehman Brothers - the world's fourth biggest investment bank. It might cause the the Bank of England to reduce interest rates. But how will this affect British bank customers? Will the problems stall the recovery in the British Housing market?
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sources: thelondonpaper & Metro newspapers 16/09/08
Yesterday The Guardian headline read "Boost for local authority mortgages..."
Aparently local authorities in certain parts of the country could soon be offering mortgage deals as low as 3.93pc!
The idea is to help "struggling home buyers onto the property ladder". Lets hope this idea takes off!
I read the article too. They're considering Portsmouh, Bristol, Lambeth, Manchester and Hackney councils. But if this proves popular I'm sure they'll roll this out to other councils.
If your cash rich it could be the right time to buy if you're looking at it as a long term investment.
Analysts at Shore Capital warned UK property prices could halve from here because affordability is still so badly stretched. They pointed a to peak-to-trough slump of 62pc
So expect some investors to begin panic selling their portfolios
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