Good news for people like myself who are desperate to get a house. In the news today it is reported property prices fell for the fourth month in a row and purchasers are refraining from buying until the future is clearer. The number of new buyers registering with the estate agents has fallen and the lack of activity is increasing the amount of time a home takes to sell. So taking into account the factors it’s highly likely the house prices will continue to fall, right?
There is a chance but a chance nonetheless. Currently there is also a shortage of homes coming on to the market including the newly built house therefore not keeping up with the demand. These are interesting times ahead for the housing market. The last 6-7 years have been unprecedented and prices have consistently increased at a steady pace but with the looming American recession, credit crunch hitting consumers hard and the weak confidence in the housing market which has created less confidence amongst the purchasers will hopefully continue to put downward pressure on house prices.
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