Friday, October 23, 2009
Category:
Property
Several key findings were uncovered as a result of September’s National Association of Estate Agents (NAEA) housing report.
Per branch, the number of registered house hunters was found to have increased from 238 in August to 294 in September of this year. The NAEA view this as demonstrative of the housing market’s ‘cyclical nature’, as it has significantly improved since the lull in August when people do not tend to look for a new property. Furthermore, an annual comparison between September 2008 and September 2009 is thought to indicate the start of a housing marketing recovery. The figure is reported to have risen from 211 to 294 respectively.
In addition to an increase in the number of registered house hunters per branch, the number of sales agreed per branch also increased from 7.6 in August to 8.5 in September of this year.
With regard to the number of properties for sale via each branch, there was a reduction from 64 in August to 62 in September. A drop was also recorded in relation to first time buyers, with 36 percent in August compared to 26 percent in September. However, in contrast, the number of first time buyers in September 2008 stood at just 10 percent so there has been an increase over the past year. The report also revealed that there was stability in respect of the gap between asking and selling prices, at 11 percent in August and 10.9 percent in September.
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First time buyers who are keen to put a personal stamp on their new property, but do not have the money to put their plans into action, could consider taking out a secured loan to make this possible. One of many finance options available, a secured loan for
home improvements could allow the borrower to embark upon a range of projects in and around the home. For example, an extension could be built in order to create extra indoor space and gardens could be landscaped to maximise outdoor space. A secured loan could also be used to fund building upwards with a loft conversion or downwards with a basement conversion.
