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Home Staging & Interior Design - market in UK, creating best effect for highest sale value
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What does
Spring time bring for the Housing market and the sale of your home? |
| Spring
bloom ahead for house prices |
 It’s
good news for homeowners - months of falling prices are set to
end and buyers are finally returning to the property market.
Mark Adams looks at why spring has brought a boost to house
prices
House prices are picking up and look set to rise for the rest of
the year. According to property website hometrack, the average
price of a home fell by just 0.1% this month to £162,300 - the
smallest decrease for over six months.
Hometrack forecast that prices will rise for the rest of
the year, boosting the value of our homes by 3%. Although the
past nine months has seen a series of price falls, the increase
in the stamp duty threshold to £120,000 and the promise of
stable interest rates have helped to boost the property market.
Sales grow as buyers return
This optimism is reflected in the latest hometrack
survey. The amount of time it takes to sell a house fell from
7.6 weeks to 7.4 weeks and the number of agreed house sales rose
massively by 16.5%.
The number of house-hunters registered with estate agents
also rose this month – the 6.2% climb is only the second
increase since May 2004. As a result, discounts negotiated on
asking prices have dropped and this month sees houses selling
for 93.4% of their asking price.
All this leads hometrack to believe that the decline in
house prices is set to end. “An increase in the number of
buyers, helping boost the number of sales agreed, points to a
much stronger market in the coming months," a hometrack
spokesperson says.
“Buyers are no longer getting discounts on asking
prices as they were earlier in the year, again suggesting the
market is improving. We are confident that house prices will
start rising over the next few months.”
Last updated 29 March 2005 |
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