Prices bounce back
There has been somewhat of a recovery in the market over the last month, prices have been stablised in some areas and are starting a slow rise in others. As you can see from House Price Spy prices in certain areas of England including Merseyside, Kent, Reading and Nottinghamshire have seen an increase over the last month. This is in addition to a rise overall for Scotland.
While some areas keep falling the falls are now more gradual and many areas are stable. There is more money being lent out to private borrowers, although this is misleading after falling to the lowest amount recorded in recent years. More importantly there is a clear note of optimism in the market with regular folks venturing back into the market with money to spend.
I notice that after all the noises the government were making regarding new housing much of this funding will now be needed elsewhere, with so much real estate on the market and the market just recovering I am not too surprised.
After all the doom and gloom, tightening of belts and jobs lost hopefully we have seen the start of the end and looking forward to 2010 with renewed optimism.
You can keep in touch with what is happening in your local area through House Price Spy, we will even email you updates!!