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BLOG: UK Residential Property Market – a good time to buy?

Following the recent quiet period within the property market, there is positive news coming from within the industry – surveying firms across the country are reporting a 13% increase in new buyer enquiries and this comes off the back off reports that there has been a steady increase of prospective house buyers in the three months up to November.

The increase in the demand for property has led to a rise in sales, with the highest figures being reported since February across some parts of the UK.

Leading mortgage providers have also backed up these claims: Halifax report that property prices have risen by around 6% compared to 12 months ago, and state that the average UK home now costs £218,000.

It is thought that the growth in market demand is closely linked to the low interest rates on new mortgages, with some lenders providing rates as low as 1.19%.

Confidence in the market has also grown, according to market data, with four times as many experts predicting a rise in property prices next year, than those predicting a fall.

As a result, now may be the perfect time to buy property, with prices still low and interest rates low too.

If you are considering buying a property, our experienced team of Chartered Surveyors at Lea Hough can assist with all types of buildings and land. We offer a wide range of services relating to residential and commercial property, including: Valuations, RICS Homebuyer Reports, Building Survey Reports, Specific Defect Reports and general advice.

For more information please contact us on Tel: 01772 458 866 or 01254 260 196 or Email: info@leahough.co.uk

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"I have read your report again and I appreciate the level of detail and the effort you have gone to in surveying the property - thank you. You’re looking at properties every day and you know what you’re looking for – so you’ve seen things that I would never have spotted. You have opened my eyes on numerous defects on this property and am seriously thinking about leaving the idea of buying. The report was money wells spent!"

Guido Staffa, GS Tiling Contractors Ltd.