UK Housing Market

Posted on March 16, 2011 by Steady Eddy There have been 0 comments

Four Months in a Row    .      .      .      .

February’s Royal institute of Chartered Surveyors state of the housing market report shows that overall house prices have now risen for 4 months in a row. 

With London leading, the further North you go, the weaker this gets, but overall the outlook for home-owners looks bright.

The Best Regions

… for new sales were Scotland, Yorkshire, Humberside, London, and the S. West.

Wales, the East Midlands and East of England produced less favourable results,

High Deposits To Blame

One of the main obstacles to the market improving more has been the high deposits demanded by lenders.

However, the news last week and this of a return to 95% lending could see a rapid reversal in this and a return to a buoyant market quite quickly.

Improving Market

This view seems borne out by the RICS, who see a slightly stronger market developing over the next 3 months.

This may augur well for home extenders and improvers, giving them increased confidence in the fact that their projects will create a real increase in value for their properties.

The downside to this for them is that, as builders get busier with new work, prices are likely to go up. .

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