| UK
House Prices Situation: Little or no growth in most
areas
UK
House Prices Forecast: Slowing growth as year progresses
Two-Thirds
of House Prices Unchanged in January
New
data released by RICS (Royal Institute of Chartered
Surveyors) suggests the market is continuing
to slowdown gently. According to RICS, two-thirds of
UK house prices remained unchanged
in January, with the bulk of the growth
that was experienced being in London and the South-East.
RICS
also reported that only 28 per cent of its members had
reported a rise in property prices
in January – against 36 per cent in December 2006
– providing further indication of a gradual slowing
of the market.
Buyers
Shun Houses Needing DIY
Growing
numbers of house hunters are looking for homes that
are ready to live in and do not require extensive DIY,
according to a survey by the Clydesdale Bank. Of those
surveyed, 37 per cent said that they did not want a
house in need of work – a 60 per cent increase
over the last 15 months.
DIY
chains have recently reported falling sales, and the
growing focus on homes that are ready to live in could
also help to dampen house prices, as
buyers choose homes to which they are unlikely to add
much value through DIY work.
Are
You Haggling? Buyers Gain In Confidence
In
another sign the market could be slowing
and the balance of power swinging from sellers to buyers,
research from both the Nationwide bank and the Clydesdale
Bank suggests that buyers are acting more assertively
when negotiating a purchase price for a property.
Nationwide's
survey showed that only one in eight buyers are prepared
to offer the asking price straight away, with 21 per
cent making offers below the asking price first. Clydesdale
Bank's survey also supported this, finding that 63 per
cent of buyers would not be prepared to pay more than
10 per cent over the asking price – a reduction
from 76 per cent, three months ago.
|
