The market seems to be coming round to the real nature of the property crisis. Sales are up by over 10% in England and Wales while the average price is down by 0.1% during June 2011. This is after a very quiet May, which saw 28% of the country seeing a fall in prices.
This is in the same month as a report claims that 80% of homes owners who bought since the crisis started in 2006 are now trapped in their homes, unable to sell without losing significant amounts. Buyers who bought in 2007 and 2008 are worst off with up to 93% of buyers left with a short fall. The total number of properties in question is 3.5 million across the UK.
With the market improving in terms of number of sales, those who can afford to stay where they are will see prices rise and some stability return to the market in the medium term. The buy to rent market is also strong especially in areas including London where properties usually bought by first time buyers are being snapped up where mortgage finance can be found.
Posted in News June 27th, 2011 by Kenny | No comments
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Posted in General June 20th, 2011 by Kenny | No comments
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Posted in General June 13th, 2011 by Kenny | No comments
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Posted in General June 6th, 2011 by Kenny | No comments
