First-time buyers to benefit from falling house prices
28th August 2008
Daily News Brought to You by The SimpliGroup – Experts in the UK Property Investment Market
The dream for many first-time buyers to get on to the property ladder continues to become a reality as the market self corrects with increasingly declining property prices.
On average house prices continued to fall again during August with the price of a typical house dropping by 1.9 per cent in the month, according to new figures from Nationwide.
This represents an average 10.5 per cent fall in prices in the last 12 months and the first time that the annual fall in the cost of properties has hit double figures since 1990.
According to Fionnuala Earley, chief economist at Nationwide, the falling prices are beginning to stimulate interest from some buyers.
"Estate agents' data across all property types is a little more optimistic and suggests that there may be some glimmers of interest returning to the market," she said.
"Agents report an improvement in new buyer enquiries, perhaps stimulated by the recent falls in prices and the opportunity to negotiate a good deal."
Are you looking to invest in a property in the United Kingdom? Simpli Group Property has a selection of properties that will make you a great return on investment. Speak to our property experts.
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UK Property Investment
28th August 2008
Daily News Brought to You by The SimpliGroup – Experts in the UK Property Investment Market
The dream for many first-time buyers to get on to the property ladder continues to become a reality as the market self corrects with increasingly declining property prices.
On average house prices continued to fall again during August with the price of a typical house dropping by 1.9 per cent in the month, according to new figures from Nationwide.
This represents an average 10.5 per cent fall in prices in the last 12 months and the first time that the annual fall in the cost of properties has hit double figures since 1990.
According to Fionnuala Earley, chief economist at Nationwide, the falling prices are beginning to stimulate interest from some buyers.
"Estate agents' data across all property types is a little more optimistic and suggests that there may be some glimmers of interest returning to the market," she said.
"Agents report an improvement in new buyer enquiries, perhaps stimulated by the recent falls in prices and the opportunity to negotiate a good deal."
Are you looking to invest in a property in the United Kingdom? Simpli Group Property has a selection of properties that will make you a great return on investment. Speak to our property experts.
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