The real estate market in the UK returned optimism

Despite the fact that the real estate market in the UK still reigns uncertainty caused by the upcoming parliamentary elections, returned to the market optimism that was lost during the second half of 2014. Association of Builders of great Britain conducted a survey of people to find out their attitudes to home buying. The survey revealed that 36% of respondents believe that now is an opportune time to buy a home. Compared with September 2014 significantly increased the number of people experiencing optimism about home buying in September this figure was at 23%.

Falling optimism in the fall of 2014 coincided with the announcement of new mortgage rules that were designed to greatly complicate the mortgage loan.

Now , when the process of obtaining a mortgage already-established, despite the decrease of unemployment and wage growth, the main obstacle for people wishing to buy property in the UK is the availability of the initial payment of 25%. Now , given the rising prices, this amount became even higher as rising prices for houses and flats in England is much higher than the growth in wages. About 59% of the respondents in this see the problem.

The reason for optimism in the market was the fact that the prices of flats and houses in England for the last 6 months or has not increased or, if increased, very low. Stabilized prices have calmed the ardor of the sellers and have a beneficial effect on the mood of the buyers.

The pace of construction in England and the Pulse increase , the market is increasingly quality , new housing. This pleases both buyers and sellers. At the end of last year held a series of events on the housing market in the UK, which has had a positive impact on the market in the sector of economy class housing. Actively working the program “Help to buy” , significantly reduced mortgage rates, and, of course, can not affect the sentiment of buyers, reducing Stamp duty. On average, buyers of up to £1 million can save on stamp duty up to £12000 .

It is important to understand that now is an opportune time in the property market in the UK to buy. After the election , likely buyers and sellers will flood the market and more fierce competition, the buyer will not be able to feel at ease.

® Alice Morgan 24.03.2015