Have house prices reached their lowest? - October 2009

Is now the right time to seize the opportunity to buy a property at its lowest price? Yes, assuming we have reached the point where the price of the property will not fall any further due to factors such as negative equity, sellers chosing to stay and improve their homes and burgeoning optimism. Yet this is a big assumption to make, and no matter how many people chose to speculate about the 'bottom line' this is still no more than calculated guess work. One can estimate that property prices will not fall drastically from where they are now but the global economy can always take an unexpected turn causing mortage deals to shrivel up and the market to slump even further.

What can be said as fact is that there are signs of recovery with estate agents all over the country reporting an increase in buyers on their books as well as an upturn in sales. Strong, traditionally popular locations will recover quickly so the investor is advised to focus on tese areas. For first time buyers its key to secure the right mortgage deal that you are confident with for your budget. For homemovers in general, do the extra work needed to make your property stand out; this way you are increasing your chances of finding a sale. Keep up with the lastest news on MoveWise.co.uk

Is The UK Housing Market Recovering? - September 2009

This time of year is traditionally marked by buyers who are on the hunt for a new home before Christmas, and conversely, sellers who want to be in a new home in time for Christmas. This activity will undoubtedly give a welcome boost to the figures but the low interest rates are still no help to those who can't secure the right mortgage deal.

The latest mortgage news is that there are now products bcoming available for first time buyers which is a significant step in the right direction: - the market will only begin to move from the bottom up, i.e. first time buyers making purchases that set the wheels in motion.

The market will continue to remain relatively stagnant if mortgagees fail to offer deals with deposits of 5-10%. It’s vastly unrealistic to expect first time buyers to have more than this as a down payment on their choice of property, when you also consider that the cost of living has risen including petrol & utility prices, how can they be expected to save as well?

Figures show that it is taking on average 12 weeks to sell a property and that buyers are making offers of around 10% below the asking price. Whether or not that offer is being accepted is dependant on many factors including the current state of the market in that particular area and how quickly the vendor wants to move.

Estate agencies faces closure all over the country; they simply cannot afford to trade under these intense market conditions. The result of this is that sellers are having to find another agent which can ultimately delay the sale of their property. Another factor that is adding to the estate agent's demise is the ever decreasing need for their services. With MoveWise services, people are becoing empowered to take control of the sale of their own home and cut out the expensive middle man. Saving money on the sale of your property is more important now than ever!

Bank of England Interest Rates

Remain unchanged as of Thursday the 10th of September 2009 at 0.5%