There is hope for the housing market

Story link: There is hope for the housing market

While the demand is increasing within the property market, the supply is so over flooded, it is not allowing house prices to stabilise to their original state.

The good news for homeowners is that banks, led forward by Northern Rock, are increasing their lending, by freeing up the criteria, which is obviously good for the future of property prices.

There is hope for the housing market

More homes are being put up for sale and more are also finding buyers, but at prices well below sellers’ expectations. As a result, the average sale price is now 88 per cent of the figure at which a property is first marketed, according to the latest survey from Hometrack, the housing data group.
This reinforces the message coming from all parts of the property market — that househunters are demanding bargains amid forecasts of further price subsidence.