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House prices fall

House prices fall

Despite all the optimism shown earlier this year that house prices were due to rise noticeably both this year and next year these forecasts have proved well wide of the market reports Andrew Oulsnam, Managing Partner of Robert Oulsnam & Company.
The most recent surveys for the second quarter of this year are showing price falls.

The amount varies from area to area of the country but it is becoming very clear in the Birmingham and Worcestershire areas that unless properties are priced competitively they are unlikely to affect a sale.

There has been a significant increase in the number of properties coming onto the market in May and June with a number of available homes for sale now almost 50% more than they were in January this year, this is despite the fact that was actually an increase in the number of sales transactions from May to June.

The key factor in driving up prices in 2009 was the shortage of properties available and as this is now being corrected, we are unlikely to see substantial prices rises for some time to come. What is more important there are many optimistically priced houses on the market which will have to reduce to be able to affect sales.

The one good piece of news has been a very slow but steady increase in the mortgage market with more mortgages arranged in the last two months and with much better products being made available to would-be buyers, many more are now able to find a mortgage.

Robert Oulsnam & Company prides itself on the quality of service it provides in all spheres, of selling your home which may explain why many more people are turning to this company, commented Andrew Oulsnam. If you are thinking of selling your property, please contact us your local office or email us at sales@oulsnam.net.
 

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