Is 2014 The Year To Buy A House?
Young people in their 20’s and 30’s have been dubbed ‘generation rent’ by industry experts as more and more choose to delay entering into the property market, but is all this set to change in the coming year? First time buyers have flooded the property market since the beginning of the year, which pushed prices up by almost 9% in January.
The last three months of 2013 saw a 32% increase in first time buyers borrowing money than in 2012, and it’s not hard to see why. Employment is finally on the rise, and we are experiencing record low mortgage rates, encouraging those who have been putting off buying because of the recession to grab the property ladder with both hands and start climbing.
Though home buyers are being stretched further financially than they have been in previous years, prices are set to continue to rise meaning now could be still the perfect time to buy. The government has introduced Help-To-Buy loans of up to £600,000 to help first time buyers take their first steps. The return of first time buyers to the housing market is encouraging, but with prices being driven up it is more important than ever to ensure they are paying a fair sum for their properties.
At Kutner Associates we have over 20 years of experience providing both domestic and commercial clients with building surveys across the London area. If you’re thinking of entering into the housing market then we can provide you with both reports and valuations to ensure you are paying a fair price for a property that is up to standard. For more information on any of our services all you have to do is call 0207 722 6904 today.