Home Buying

The news from the housing industry is that their sector is starting to make a recovery. The housing market have reported an 18 month rise in house prices, and the average amount of homes being sold are double what they were in August 2008. The council of mortgage lenders are saying that the amount of banks granting loans for mortgages has increased by thirty six percent. But the numbers of people getting a mortgage still aren’t as high as they once were, with buyers being weary of the housing market at the minute. Recent reports have shown that the prices have steadied out and have now starting rising again very slowly. House prices have seen a 2.5 % each month for four months straight. Prices are still lower than what they were before the recession, so it might be better to try buying that house now before prices go back up.

Is this really that good news? If your a first time buyer, it varies -you new house in not going to cost more than it did a couple of months ago, but your more likely to get a loan from the banks. For people looking to sell their houses it might be worth waiting for another couple of months, if prices are increasing slightly you might want to consider just holding off a little bit longer. The winners from this is the estate agents, who will start to see more houses being sold and more money in from the house prices going back up. First time buyers were complaining that house prices were to high beforee we hit the recession, now we have the sellers moaning about the fall of the house prices, cant please everyone can you?

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