Uk Prices To Rise, Say Banks
Property prices are expected to rise by an average of 1.4 per cent over the next year, according to the latest Building Societies Association tracker survey...
It found that cautious optimism has returned to the housing market. Previous results showed that respondents predicted a 6.1 per cent fall in prices in the March survey and a 7.1 per cent annual fall in June 2008. However, 61 per cent of respondents cited job security as a major barrier to house purchase – the same proportion as in the March survey.
Paul Broadhead, head of mortgage policy at the BSA, said, “People clearly recognise that with both property prices and mortgage rates having fallen, there are potential bargains to be found, meaning that now is a good time to buy. “However, for many, concerns over job security mean that they are unlikely to actually go ahead and buy. They will need to see confidence in the jobs market return before they make their move in the property market.”
Source: www.estateagenttoday.co.uk
