What about House Price ranges - Is It Rising or Going Down?
Well, with my crystal ball being at the dry cleaners I can not say for definite about whether or not prices are heading up, down or staying the same - the truth is no one can right at this moment.
On the one hand we have barrow loads of supply set to come onto the market as the government cuts swathes of public sector jobs -- adding to a supply increase started by the abolition of HIPS. This could easily lead us into a second crash say some analysts.
On the other hand, we've got very low rates of interest, which in all likelihood will stay low if the financial recovery can be sustained. These and other factors may easily strengthen demand and likewise and keep supply rises from heralding a second coming.
Currently, it seemed like that the other group was precise in their conjecture but then the Halifax index reported a shocking .6 percent of in month on month increase in July. Shock because it ended a 3 month run of month on month contraction. This took the wheels off the naysayers.
So Where Are We; Is it Time to Sell My House or Not?
This I can answer a bit more definitively. It looked for sure like we were going into the second dip scenario, but the increase reported by Halifax, along with all of those other rises to end runs of shrinkage, make it look like the reduced interest levels are going to retain adequate upward pressure to control another crash.
If I was considering selling my house, the news from the Halifax today could have made me change my thoughts about leaving it for now, and forced me to get it onto the market. If perhaps interest rates are able to stem off the supply-growth-fueled shrinkages for now, they might be unable to for long, making it very important for time.
If you will be selling your property now, this may be your last chance to obtain a reasonable price prior to another extended stagnation that will definitely usher in as much rises as there are price falls, plus will probably leave the prices in some locations much lower than what they are at present. No one can force you to accept an offer; I would get it on the market now.
Now that you know the challenges you face in the current property market, visit our website and read our expert guide on how to cut estate property fees.
Gavin Brazg is editor of www.TheAdvisory.co.uk - UK's largest free resource of free expert advice for UK House sellers.
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