Will The House-hunters Return Along With The Daffodils?

Filed under: Mortgages, Debt, Comments on the news, Credit Crunch — Administrator at 12:46 pm on Friday, February 20, 2023

The sun’s shining today. The cold snap may have come to an end. There are signs of life in the garden. Could we forget Lloyds, HSBC and bankers bonus questions for a while and look back at how things used to be?

There seems to be some better news and the hint of hope that the property market is improving. Asking prices were up in the four weeks up to February 7th by 1.2 per cent, or just over 2,500 pounds according to one well-known website.

Low interest rates and sellers reducing their prices could tempt buyers back into the property market at what has always been the house hunting time of the year.

This follows the mortgage lender, Halifax, reporting that house prices increased by almost 2 per cent during January and some helpful reports from both the National Association of Estate Agents and the Royal Institution of Chartered Surveyors that there was more interest from would-be buyers.

For sellers, this is good news. They’re not necessarily looking for increases in values; just a buyer would be the answer to their prayers.
Maybe the record low interest rates and recent price falls are winkling out the buyers. Let’s hope so, it’s surely time to get moving again. Literally.

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