London’s last 100k homes

We found just five properties in London advertised for less that £100,000, excluding retirement properties, shared ownership homes and those sold at auction.

This may be the last time we see properties under £100,000 being sold in the capital – well on land least, as the only homes available in this category are houseboats.

Take a look and let us know what you think: http://www.placebuzz.com/property-for-sale/greater-london/london

 

 

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UK House prices in 2014

The latest house price index from Halifax has revealed that prices in the three months to December were 7.5% higher than in the same three months the previous year.

These latest (Halifax) figures show just how tricky it is to gauge exactly where the property market is on its road to recovery.Nationwide’s last figures showed a 1.4% rise in property prices in December, while Halifax reveal a 0.6% decline, which is what we would typically expect to see as activity drops off before and over the festive period.

The difference between now and 12 months ago, when we were seeing this type of conflicting data, is that at that time there were very few new properties coming onto the market and very few people buying.

Now buyer confidence is back with a vengeance in many parts of the country, fueled by a continued supply of cheap mortgages and a more buoyant economy, and it’s only a lack of supply that is holding them back.

The slight worry is that mixed in with this confidence is a degree of fear, especially amongst first time buyers, that if they don’t take the plunge now they will be left behind as lack of supply and buyer demand drives prices higher and out of reach.

The next few months are going to provide a crucial indicator as to where we are in the housing market cycle. The market is building up a head of steam but there will be concerns that property prices are starting to rise at an unsustainable rate, especially in London and the Home Counties.

The hope is that we will see more steady growth at the start of 2014 supported by a much stronger supply of new properties coming onto the market.

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