House Prices Fall By 1.5% In February 2010

Published on March 4, 2010 | Author: admin

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Where does it leave you?

 

The Halifax recorded a house price fall of 1.5% in February, knocking almost £2,500 of the average house price, the first fall since June 2009.  They have also said that the market has slowed in recent months. 

It is believed that the drop has been caused by the poor weather, more properties being put up for sale and the end of stamp duty relief. 

The weather has meant that potential buyers have been less likely to travel or leave their own homes. 

The stamp duty threshold had been increased to £175,000 for over a year but reverted back to £125,000 on 1st January 2010.  This has put off buyers able to purchase properties priced around the current average house price of £166,587. 

The Council of Mortgage Lenders reported that gross lending for home loans fell by 32% in January this year in comparison with December 2009 to a 10 year low of £9.1bn. 

You can’t not rely on the weather, lenders or new instructions to help you sell your house. But you can always trust Quick Cash For Properties to arrange for a quick property sale whenever you need it. Call our specialist home buyers on 0800 933 6137 and discuss your needs with us.

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