Prices rise by £10,000
The average price of a home has risen by around £10,000 in recent months and estate agents sales are up by around 10% from the depths of the recession. Financial institutions are divided on whether we will see a slight drop in prices before the market recovers to 2007 levels.
With the average wages being around £25,000 we are finding it harder to save for a first time deposit making new first time buyers scarcer than ever, the government was making big noises about attracting more people onto the property ladder and has allocated billions of pounds towards this end. Low asking prices, low interst rates and a fast recovering mortgage market cannot make people buy!
I notice Barrack Obama took time out of being the US president to win the Nobel Peace Prize ! Well done to him, although anyone in the US who has just lost their job, house or business will be wishing the US concentrated on what they do best (make money) rather than try to sort out the worlds problems. This is good going for Mr Obama as people usually work for a lifetime, risking life and limb for a Nobel Prize and he has won one after just a few months in the job.