The housing market has always been an indicator of how well (or how badly) the UK economy is doing. What was becoming increasingly obvious was that first time buyers were really struggling to get into the housing market because of the levels of deposit required and people who wanted to move up the ladder were experiencing similar problems so they just stayed put. The scenario was therefore like this: nobody moving and no new buyers entering the market. All of this spelt trouble for the UK economy and so this is why the government introduced the ‘help to buy’ scheme.…Read more..
There’s been more positive news on the housing market recently as a recent report by RICS (Royal Institute of Chartered Surveyors) states that house sales are on the increase and that they have hit the highest level since 2008. The report also reveals that some estate agents are seeing more than ten potential buyers for every property coming to market and that over the last 3 months, estate agents have sold an average of 23 properties, which is the highest figure for 6 years. Furthermore, 26% of surveyors have reported an increase in agreed sales in the 3 months leading…Read more..