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Monday, July 26, 2010

House Prices Falling again

House prices have now fallen for 4 out of the last 5 months according to the Halifax's monthly survey.

The reasons?  The obvious general ones are:

  • Continuing economic worries
  • Lack of mortgage finance
Also, First time buyers cannot afford to buy property..why?
  • They need to put up a bigger deposit, compared to 4 years ago
  • Houses are still expensive in reflation to their earnings
Is all this likely to change?
It is unlikely in the short term. People are worried about their jobs and facing pay freezes and so are putting off decisions like buying  a house.



Posted by Sean Wilson, APFS, Independent Financial Advisors (IFA), Swindon, Wiltshire.

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