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Archive for July, 2009

Trying To Sell Your House Fast? Don't Read This.

Monday, July 27th, 2009

Times are tight and despite the Govt’s Quantative Easing program (i.e. pump cash into the banks fast) the institutions we and the economy rely on for credit aren’t paying out. The result: companies can’t get loans to enable growth, jobs are cut and first time buyers can’t get a mortgage.

That last one is killing the housing market because no-one on the ladder can move unless they and all their chain have solid financial reports or alternative funding. Check out this article from Money Stop, the financial comparison site, it discusses the lack of mortgages currently being approved.

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You Might Not Sell Your House Fast But…

Friday, July 24th, 2009

…you might just sell it (if you live in London).

That’s because our capitol is being touted as the first area in Europe to recover from the slump in the housing market. And what a slump, London house prices in March were 14% lower than a year previous but a recent rise of 3 – 4% has prompted analysts to speculate about the presence of green property market-related shoots.

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Want to Sell Your House On The Open Market? Best Wait till 2011

Tuesday, July 21st, 2009

Great news if you own a property in the UK; house prices rose 0.6% in June.

Excited?

Trying to sell your house can be a trying experience

Trying to sell your house can be a trying experience

Ok, so it’s not earth-shattering news and 2-year projections show that prices are likely to continue to fall with a full recovery in the housing market unlikely before 2011. Home-owner in Wales are some of the hardest hit with average house prices in rising just 0.5% in July to £169,109 which is still 6.1% down on July 2008.

The Welsh also experienced the most severe price drops in the UK at more than 4% and if you’re trying to sell your house, it doesn’t end there. There’s still a chance that house prices could fall in the second half of the year as well if mortgage lending remains tight, repossessions hit the market and unemployment continues to rise.

The 2011 recovery projections have been put together by the University of Glamorgans, Dr Stuart Paris, who has developed a model that can predict changes in the housing market. The model uses variables including:

- Unemployment levels
- The ratio between house prices
- Average earnings
- Bank of England base rate
- Inflation
- Relationship to average earnings

…to predict the direction of the future housing market. Scary.

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Getting A Fast House Sale On The Open Market Could Mean Low, Low Prices

Wednesday, July 15th, 2009

Anyone looking for a fast house sale could be waiting a long time yet if the latest research by PricewaterhouseCoopers LLP is anything to go by. Despite the 2.6% increase in house prices in May, they reckon prices will continue to fall into 2010.

To get the full low-down on the survey, have a read of this article.

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Open Market Still No Place For A Fast House Sale

Tuesday, July 7th, 2009

The Bank Of England’s property expert Professor David Miles has gone on record saying he thinks there’s hope for the UK housing market. His comments come amid the appearance of the smallest of small green shoots even thought the economy remains weak.

Professor Miles said: “Expectations are crucial in the housing market and they look a bit better now than a few months ago. My hunch is that we have seen most of the overall aggregate house price falls.”

But to make sure he didn’t get anyone’s hope up, in the same breath he warned that the housing market will only see very minor growth in the coming years due to the severity of the mess we’re in. Which means if you were hoping to sell your house fast on the open market, you may be waiting quite a while still.

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