A mixed bag of news and views on the property market this week.
One analysis of the property market indicates that house prices fell for the first time this year in July due to more properties coming onto the market but with declining numbers of buyers, based on new buyer registrations with agents. However this could be a seasonal slowdown, hastened by the advent of the London Olympics.
On the other hand, it seems the Brighton property market is still bouyant, driven on it seems by buyers from London looking for property by the sea.
The picture is continuing to be unpredictable, as another set of date has shown net mortgage borrowing rose by 0.9% in the year to June, according to the British Bankers’ Association. This is supported by data from the Council of Mortgage Lenders indicating lending also increased in May, which seems to suggest the slump in demand following the ending of the first time buyer stamp duty holiday was short lived.
With interest rates still at a record low and looking likely to remain so for quite some time, now could be a good time to get a foot on the property ladder, and with their expert and approachable conveyancers, Cunningtons solicitors will be ready to help those looking to take advantage of the current property market conditions.