A majority of economists believe 2009 will be a year in which to avoid buying property and that prices will continue falling in 2010.

However, a significant minority think that prices will reach their low point during the year as the recession and credit constraints ease.  Some of these economists suggest that 2009 will be a good time to buy.  Others have even suggested that the house price “bounce” could be as steep as the fall.

A recent survey shows that first-time buyers will find homes more affordable in 2009 than at any time in the last five years. If - as expected - prices continue to fall, homes should become more affordable still.  Now, if only lenders will reduce the need for large deposits, this would reduce the pressure on parents and the knock-on effects would bring more mobility to the market, allowing existing home-owners to move to a bigger home.

Can you now afford your new home?
Can you now afford to move to a bigger home?

Call us on 01752 561981 for a free, no-obligation discussion of your circumstances and we’ll see if we can help you move into that new home!

Further Reading:
http://www.ft.com/home/uk
http://www.independent.co.uk/opinion/leading-articles/leading-article-good-news-ndash-for-some-1218130.html
http://www.telegraph.co.uk
http://www.inthenews.co.uk/money/property