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UK Is A Buyers Market As Property Values Increase

UK Is A Buyers Market As Property Values Increase

UK property investors have known that the day would come when the rest of the country’s population would cotton on to the fact that there is money to be made from property.

With newspapers and television media reporting that UK property values are experiencing the strongest annual growth for nearly two years, there is little doubt that the UK public will be able to ignore the facts for very long.

The media reports are based on data from the UK Land Registry, showing the average cost of residential property in England and Wales increased by as much as 1.1% to £162,561 in September 2012, the biggest year-on-year rise since November 2010

The majority of the public have been made aware of the upward trend in house values and now believe that the UK housing market will favour buyers rather than sellers, over the next year.

The thoughts of the general UK public are also backed by new research from the Halifax, however, only 9% of people feel truly positive about buying and selling property in the near future, suggesting the UK market may still remain quiet for some time yet.

56% of respondents think it will be a good time to buy property within the next year, and just 11% believe it is the right time to put one on the market.

Halifax said that the UK was gradually becoming more optimistic about property price rises, although most people still believe any price variation within 2013 will be relatively small, with two thirds expecting fluctuations of around 5%.

The national average property valuation has begun climbing gradually again since May 2012, after a year-on-year price drop was recorded in every month between January 2011 and April 2012

62% of people believe one of the biggest challenges remains finding the money for a deposit on property, and 30% said mortgage availability would still be a challenging obstacle.

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