UK House Prices Jump For Brief Moment, Sell My House Fast
Published on April 6, 2012 | Author: Harish
Overall UK Housing Market Stagnant, Quick Sale Property
House prices in the UK rose 2.2 per cent in March before the stamp duty holiday ended. The Halifax says that the temporary hike came from first time buyers wanting a chance to start up the property ladder before the stamp duty fell back into place. The housing experts do not expect much more movement in prices for the remainder of the year.
March’s temporarily optimistic numbers hide the fact that in the three months to March, house prices had averaged .1 per cent lower than in the three months prior. The Halifax says underlying trends show that property prices are primarily stable. The higher number for prices was pressured upwards by the shortage of completed house sales.
Homeowners eager to sell house quick need to keep in mind that prices in February had fallen .4 per cent. Temporary improvements in the market are apt to settle down quickly. The first time buyer factor cannot be overlooked. Their eagerness to buy without having to pay stamp duty meant more demand but only on a temporary basis. Increased demand helped boost prices.
Now that the stamp duty has returned, first time buyers are not as motivated to purchase homes. Looking at the big picture, it is noteworthy that the number of first time, as compared to returning, buyers increased proportionately from the last quarter of 2011 into the first quarter of 2012. The temporary increase in the starting figure for stamp duty payments required of first time buyers from £125,000 to £250,000 gave incentive to buyers to make their purchases before the lower level returned.
When the stamp due holiday was in effect, a total of 150,000 first time buyers were exempt. That means an extra four in ten of those buying homes for the first time. Prices in early 2012 were only .6 per cent lower than during the same time period in 2011.
In Spite of Temporary Optimism, Doldrums Apt to Return, Sell House Fast
Homeowners stressed by the economy are having a hard time on the open market selling their homes. They need to sell in order to pay debts that the tight economy has made it hard to meet. Many homeowners who cannot wait for the economy to improve are turning to the expert property buyers at Quick Cash for Property.
A quick call to freephone 0800 6528 396 will yield a no obligation cash offer in as little as 24 hours. The service is fee free, and pays homeowners the best prices around for their homes. Worried homeowners who were not able to sell their homes while the stamp duty holiday was on, can end their worries today with a call to the property experts.