Mixed messages
The media is mixed in its messages at the moment. Usually it is hyping one way or another, either doom and gloom or trying to be on trend with predictions for recovery (without sticking their necks out too much!). At the moment every publication seems to be predicting a different way or using their data differently, after the slight rise in average prices the UK experienced a drop last month. What can they all agree on?
Property prices will see a drop for around 6 months and then see a slow recovery.
Mortgage approvals have risen 4% last month and are expected to grow steadily.
First time buyers will have a larger percentage of sales.
Overseas and holiday homes will become more expensive. Tax relief on these properties has been cut for the first time since the Eighties.
The government has been sending out mixed messages as has the finance industry, what are you and me meant to think? Millions will certainly sit out the next year or two, those not able to do that will need to put more effort than ever into finding a bargain! House Price Spy lets you find out for free what properties are worth, when used with your won knowledge and intuition about the market.