Home Sales Uk Statistics
It has been a depressing year for House Sales UK. The market prices are around 16.2% less than they were a year ago. The average house price is now about one hundred and sixty thousand pounds, down from about ?191,000 this time last year.
With those figures in mind, and considering the particularly low interest rates, you would think that more and more Home Buyers would be entering the market anxious to sieze a bargain. Alternatively, it appears the only individuals really active in the House Sales UK Market currently are the Home Buyers who are only buying for investment, a bit of speculation, or those lucky enough to have adequate money around them to ride out the recession and more.
These types of Home Buyers are not seeking a home for themselves; they are in reality seeking a relatively protected home for their money. They know that Deposits in the bank will not be guaranteed up to the amounts of cash that they have. They also recognise that they won’t get very much interest at all if they do put their cash into bank deposits.
On the other hand, an increasing number of people are looking to significantly reduce their borrowings, and those with a decent level of equity in their house definitely won’t be following the pattern of recent times and borrowing extra to buy a bigger house.
Bearing all this in mind, I’m relieved that I don’t need to Sell my House at the moment, because it would seem that the only realistic chance I would have of selling it would be to one of these corporate or private Home Buyers. These companies will definitely act very quickly, and they don’t prevaricate or change their mind once they’ve made an offer, then again, they’ll typically offer you only about eighty per cent of the market valuation of your house.
These Professional Home Buyers are working on the reckoning that House Sales UK Values are not likely to drop another twenty per cent sooner than the market bottoms out, and they know they can wait that long before they need to turn their investments back into money.
I suppose thinking it through if I did want to Sell my House right now, and buy another one straight away, then it might not be a bad idea to call in one of these swift Home Buyers, and accept the twenty per cent discount I’d have to give on an already depressed price. At least I wouldn’t need to pay Estate Agent’s or Solicitors’ Fees, and once I’d done the deal I would become a Cash Home Buyer myself, and I would be able to negotiate a similar reduction on the house I plan to buy.
