The housing market presently favours buyers as house price increases halt across the country.
Recent Nationwide figures highlight that despite the fact that house prices have gone up considerably in London, the South West as well as South East in the last quarter, the property market elsewhere is flat.
Welsh house prices have fallen, confirming that the higher cost of borrowing is taking hold.
Buyers are making use of the nervousness in the property market by reducing their offers, with an increasing number of estate agents advising sellers to reduce their prices.
Approximately 20% of deals are not going through as buyers reconsider and review the property market . It is predicted that house prices are likely to decrease by 10% by spring unless there is an interest rate reduction by half a point prior to Christmas .
Buying agents are currently advising clients to exploit the property market. Buyers ought to ensure that the asking price is reduced by a minimum of 10%, if not more. Furthermore, experts consider that a lack of property for sale will ensure property prices not crashing.
There seems to be a tightening of supply due to greater uncertainty.
 |
| Property Guides |
Buying property |
| Find Property in the UK |
| My estateagents | |||||
|
House Prices Halt
Tue, 09 Oct 2007
Recommended links
House Prices Fall in SeptemberHouse Prices Freeze
House Prices Decline
Housing the Public Can Afford
| Bookmark: |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| Estate Agents news |
|---|
| Britains Housing Market Decline To End Next Year - Wed, 09 Jul 2008 |
| Insomnia rife in estate agents - Fri, 04 Jul 2008 |
| Estate agents need regulation - Fri, 27 Jun 2008 |
| More News |
