Energywyse - Fixed Price Conveyancing Solicitors

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Doomsters Capital Economics made big headlines at the weekend with their forecast that house prices will crash more than 20% over the next two years as a result of Government spending cuts, tax rises and a surge in unemployment.

Auctions held last month in the UK achieved a low rate of sales at 61.4%, Essential Information Group has reported.

Eric Pickles, CLG secretary of state, has stated “Suspending HIPs has boosted the housing market, while their eventual abolition will save the public just under £900m in the next ten years.”

New sellers are now starting to outnumber new mortgage approvals by 5.2, Rightmove has announced. The number of unsold properties staying on agents’ books has jumped by almost 25% in the first six months of this year.

First-time buyers may have noticed a slight recovery in the market, as figures just released show a three per cent rise in home values since the start of the year.