The Housing Market Is Starting to Recover

The rumbles coming from estates agents is that the housing market has started to recover. 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. News from the council of mortgage lenders is that some of the banks are increasing the amount of buyers they give their mortgages to by 36%. The numbers of people getting a mortgage still arent as high as they once were, with people still viewing the industry with a cautious eye. Figures also show that house prices have stopped falling and are now very slowly starting to rise again. Housing prices have now risen for the fourth straight month, averaging a two and a half percent a month. It may be worth considering whether to buy that house now rather than waiting with the prices on the market still being lower than what they were before the ‘credit crunch’.

Does this news really seem to be as good as we first thought? Its a double edged sword for buyers, your more likely to get a mortgage, but the price of your home wont be as cheap as it wouldve been at the start of the year. 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. Either way its the estate agents that win, not only will more people be getting mortgages, they will be getting it at increased prices again and will have more houses to sell. 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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