By Ricky Stokes – Putterills
Latest reports indicate that house sales are on an upturn after a period of stagnation and depression.
This is certainly good news for both sellers and buyers alike. Sellers can benefit from an increase in buyers actively looking to secure a purchase before prices start to rise significantly and from the current shortage of properties coming onto the market. There has been a decline in activity by developers resulting in fewer new builds on offer at the present time and therefore the second hand housing market will be well placed to take full advantage of this situation.
Buyers must also now be aware that house prices have increased over the previous four consecutive months albeit slightly – many having take refuge in rental accommodation waiting for prices to stabilise. National prices are on average 14% lower than at the peak of the market in 2007 and couple this with low interest rates, now is definitely the time to come out of rented accommodation and/or move up market while prices are still bouncing along the bottom.
There has rarely been a better time to buy or sell.