House sales – increased activity reported

mortgage broker cardiff harvey bowesThe National Association of Estate Agents (NAEA) have reported an increase in sales activity again for the month of February 2013. This increase means that sales are now at a 3-month high. Given that December is traditionally a quiet month for activity, this is a very positive sign in the market place.

February also saw an increase in the supply of houses with the average number of properties per NAEA branch increasing from 56 in January to 58 in February.

These small steps are a positive sign for the market. Particularly the increase of housing stock available for sale, giving more choice to house-hunters which in turn may continue to drive some growth.

For those who are able, this is a good time to buy. The deal rates offered by lenders remain highly competitive, even 90% Loan to Value mortgages have become easier to access and lower in cost than they have in the last few years. There are also schemes such as the NewBuy scheme, Funding for Lending and now since the last budget the announcement of the ‘Help to Buy’ scheme.

The Chancellor’s unveiling of the ‘Help to Buy’ scheme in last week’s Budget, which included a package of measures to support those struggling to get onto the property ladder, is a positive development and another scheme designed as a catalyst to increased market activity.

While there are continued concerns, particularly in the Eurozone and other parts of the UK and World economy, if mortgage lenders and the Government continue to make small advancements and develop new strategies, the market is likely to continue to grow little by little.

To find out more about the mortgage deals available or schemes to help buy a home, contact one of the team at Harvey Bowes today on 029 2115 6918

Your home may be repossessed if you do not keep up repayments on your mortgage

Note: Homeowners buying a property with a relatively small deposit, such as 10-15% are at higher risk of negative equity should property prices fall.

 

Advertisements

About harveybowes
Mortgage Broker and founding Director of Harvey Bowes Limited. A mortgage broking practice with bases in Cardiff & Poole, UK. We take a fresh and positive approach to mortgage broking which pays dividends for both our clients and frankly, ourselves. The team at Harvey Bowes are expert advisors in all aspects of mortgages from residential to commercial and buy to let.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: