LATEST PROPERTY MARKET NEWS

UK House price growth of 1.9% recorded in Jan 2009.

Astute buyers starting to buy in the super prime property market.

Heartened by a significant increase in the number of buyer enquiries and viewings recorded in January, country agents everywhere are scanning the landscape for signs of those elusive ‘green shoots of recovery’. It’s still early days, but the launch of the first batch of classic country houses to hit the market in 2009 will surely provide a pointer as to how things will go for the rest of the year.

The property market in December performed better than expected, according to the NAEA. They found the number of sales agreed per month remained the same as in November, rather than falling as expected in a usually quiet month, and also that the number of first-time buyers increased slightly (a number which has been rising since August) to make up an average of 10.8% of all buyers. Upmarket agents and property finders are reporting a recent surge in enquiries from Middle Eastern buyers who want to take advantage of the weak pound, particularly in the Home Counties.

Half a percentage point has been shaved off interest rates by the Bank of England today and they now stand at 1%. Some are already speculating that rates will drop to 0% before the year is out, however, others - including the Federation of Small Businesses - argue that they should have stayed at 1.5%.

Providing lenders pass the cut on, it is hoped that this will encourage more buyers into the property market. All the main country agents & buying agents advise that new client enquiries in both London and the Country have significantly increased with buyers keeping an eye on what they perceive to be the bottom of the market. Clients who need to purchase this year are aiming to do so whilst house prices are still on a downward slope, and with savings rates at an all time low, now is looking like a good time for them to protect their capital in the long term by way of property purchase.

If you require impartial advice on acquiring a prime property, please contact one of our Directors:

Telephone

UK Office : +44 (0)1425 462 549

South Africa Office +27 (0)76 222 7518

Email

Email: inbox@sandshomesearch.com

Website

www.sandshomesearch.com

Office Address

UK Head Office
Sands Home Search, 12 Winston Road, Churchdown, Gloucester. GL3 2QZ


South Africa Office
Sands Home Search, Leopard Rock, 47 Price Drive, Constantia, Cape Town. 7806

  
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