Some 39pc of those questioned by the Halifax housing market confidence tracker believe prices will generally increase over the next year, almost double the 20pc of people who predict they will fall.
Researchers said this is the most positive view since the quarterly series began 12 months ago, with Londoners the most confident about rises and those living in the North East the least positive.

Martin Ellis, housing economist at Halifax, said: “It is encouraging that the level of consumer confidence in the housing market continues to improve, albeit from a very low base. This is consistent with the broad stability that we have been seeing in house prices nationally in recent months.”

Some recent house price studies have noted a “spring bounce” this year, although much of this has been put down to a rush of first-time buyers completing deals before a two-year stamp duty concession ended last month.
Halifax’s own house price index found that prices in the first quarter of this year were 0.1pc lower than during the final quarter of 2011.

Seven out of 10 people predicted that private rents will also increase over the next 12 months, as would-be buyers remain “trapped” in the rental sector, keeping rental demand strong.

The survey questioned 2,029 adults across Britain.

For houses for to let and buy in Exeter, Devon, please visit our site!

First-time buyers saw an increase in sales during March, according to the NAEA in a report published today – however it also said that many sellers are remaining cautious.

The percentage of first-time buyers making sales increased from 23% in February to 24% in March, which is its highest level since May 2011.

Wendy Evans-Scott, president of the NAEA, said:

“As our member agents predicted, the termination of the Stamp Duty holiday helped to fuel a last-minute rush from people hoping to escape this tax on aspiration.

“It is clear that significant demand existed for this important tax break for those seeking to buy their first home. In light of these new figures, the Government’s decision to remove such vital financial support for what is an extremely fragile part of the housing market seems short-sighted.”

Clearly now the Stamp Duty rush is over, the Government is going to have to look at other ways of encouraging first time buyers into the market, after all they are the bloodline of the housing market.  Naomi J Ryan Estate Agents welcomes any help the Government can offer to all house buyers and owners, as the economy continues to build the road to recovery.

Mortgage products and availability for those requiring loan-to-values of 95 percent have more than doubled over the past year, from nearly 30 to just over 61.

There was a near 45 percent increase in 90 percent LTV mortgages from 228 to 316, compared to the same time last year, which is an increase in nearly 45 percent.

A “Moneyfacts” spokesperson said:

“Over the past couple of years we have seen the high LTV mortgage market stage something of a comeback, mainly due to high demand from borrowers with limited deposits…

 

…The first-time buyer market is often considered to be the life-blood of the housing market and mortgage lenders recognise this. Risk is still a major factor, however, and the majority of mortgages with high LTVs require the financial backing from a third party, such as a guarantor, as well as strict credit checks and lending criteria…”

The figures will considered good news for those borrowers who may be struggling to find a suitable mortgage deal at present.

In other news, we are pleased to announced that in the next couple of months, you will be seeing a “new-look” Naomi J Ryan Estate Agents website, so check-back for more information in the near future!

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It has been reported that the average age of a first time buyer in the UK has now hit 30. Although this is an average, the figure does vary from region to region, with Yorkshire and the North East, West and East Midlands all falling below 30.  However Wales has the highest figure with typical age being 36, and unsurprising London and the South-East are around age 34.

First time buyer sales have surged during 2012, as many tried to rush to beat the end of the stamp duty holiday on 24th March.

The Government is now hoping its offer of the “New Buy Guarantee” will help more people onto the property ladder.  Under the scheme, the Government guarantees a 5.5 percent stake, with 3.5 percent provided by the builders, allowing mortgage providers more confidence in awarding 95 percent mortgages.

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After three years of the Bank of England base rate of 0.5%, it has been announced that homeowners have saved over £500 billion in interest.

Further data has been released that shows the UK housing market is looking more upbeat and many experts are predicting better times away for Letting Agents and Estate Agents in Exeter.

House prices have had their biggest monthly rise in nearly two years, according to the widely used Nationwide house price index.

There was a 0.6% rise in February, and prices are nearly 1% higher than in February 2011.  The typical UK home is worth nearly £162,800.

This was the largest price rise since April 2010, which further increases the thought that things are not as bad as many want us to believe.

It is expected that the end of the first-time buyer stamp duty holiday will spur new sales on further, so why not give us a call now on 01392 215283 to discuss how Naomi J Ryan can help you.

Thanks for visiting us again at the blog for Naomi J Ryan – Exeter Estate Agents & Exeter Letting Agents.

This week, although there is evidence of house prices still falling by looking at the national averages, there are the all important signs of recovery, which has seen a 25 percent increase in mortgage applications over the last year – the largest increase in a decade.

These shoots of recovery would be aided by high rents, low interest rates and some easing by mortgage lenders.  The financial crisis began nearly five years ago.

The Mortgage Advice Bureau reported that the mortgage applications in January were up over 50 percent on the regularly quiet December, but more interestingly, was 25 percent higher than the same month last year.

Asking prices appear to be on the rise, increasing approximately 4 percent since January, which has been the largest monthly rise in ten years.

It is important to remember that there is a level of expectation of a “deal” and there is still a difference between asking and actual selling prices, however things are definitely heading in the right direction.

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This week, the Government has announced a plan to help reduce the deposit that many are struggling with for new homes to as low as 5 percent.

When the housing boom came to a halt back in 2006, mortgage lending was twice the level it is at present, with deposits as high as 25 percent still required upfront.  This is the biggest problem that our younger buyers are finding nowadays.

Some of the homebuilders have been able to cut their costs and increased their margins during the recession, so are in a better position to join forces with the government to offer a guarantee to protect lenders from some of their potential losses in the event of a default.

It is hoped that the increase in mortgage lending from this scheme will breath further confidence into the housing market for both lending and also helping to increase prices slightly.

The other purpose of the scheme is to tackle the so called “housing crisis” where nearly 250,000 new homes are needed each year to maintain the growing populations.  The actual number of new houses that were built in 2010 was just short of 130,000.

So far, seven lenders have agreed in principle to participate in the new scheme, including Barclays, Lloyds TSB and HSBC.

Meanwhile, for those of you wanting to take a look at Houses for Sale in Exeter or Houses to let in Exeter, then please take a look at our site or give us a call in the office on 01392 215283.