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Market Place Improving April 2014


Loc8 Estate Agents are reporting improvements in the Housing Market are here and levels of activity and prices are on the way up. House prices were 5.5% higher in March 2014 than March 2013, across the country

Nationwide reported that prices were 9.5% higher putting them at about 3% below the 2007 peak.
Kevin Scott at Loc8 confirmed” House prices are slowly on the rise with our average selling price now over £165,000. I would caution this with the fact that whilst nationally the figures can be distorted by London’s inclusion. I still recommend a sensible asking price to achieve the levels of interest you need to get the sale we want in a sensible timescale.”

Kevin Scot stated further “There is little doubt that the recovery in the housing market is now firmly established, with activity levels picking up and house prices recording further month on month increases in March.
“There are some tentative signs of moderation, with the monthly pace of price growth slowing to 0.2% in March down from 0.3% in February and 0.4% in January. Nevertheless, viewed in annual terms, price growth is continuing to run at a robust pace, with the price of a typical home 5.5% higher than in March 2013.
“Record low mortgage rates, improved availability of credit and the brighter economic outlook are all leading to increased demand for housing.

However, the upturn in the supply side of the market continues to lag far behind, with the number of new homes being built in the North West still around 40% below pre-crisis levels (and this was already insufficient to keep up with the increase in the number of households being formed).”
Kevin said when reviewing national figures it was worth noting: “Nationwide's latest data will not completely comfort those worried about a house-price bubble as prices rose for the 15th consecutive month. However, there are signs that growth is moderating with a slower pace in March than the previous two months. This cooling will only be moderate, all things considered, given the continued strong demand from buyers combined with a structural lack of supply.

“The number of transactions is still well below what they were at the 2007 peak of the market suggesting we are some way off a return to 'normal' market conditions, although prices are just 3% off that peak.
“Rising consumer confidence among borrowers, increased lending and government schemes such as Help to Buy, are all contributing to the uplift in property prices.
“To succeed in this market it is still vital you market your home at a realistic value, advertising your property across the widest markets i.e Websites, Newspapers and Local Showrooms whilst presenting your house in a clutter free way.”
If you are considering Selling your Home across the whole of Merseyside then please call Loc8 Estate Agents for further information and to book a Free Market Appraisal on - 0151 526 0021 or  01695 573752.


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