Housing market recovering faster

Posted on 08/05/2009

The centre for economic and business research in the UK had predicted a far greater downturn in the housing property market in January this year. They have now reversed their predictions amid a change of fortunes in the property market since April.

This forecast of increase in property prices leading up to 2012/2103 comes amid a slowdown in property prices declining which indicate the bottom is here or is at least near. The number of new buyer inquiries is also on the rise according to the researchers which means confidence is finally growing.

There is however a need to be cautious as there is an indication that the property prices might still fall if unemployment continues to rise. Unemployed people are more likely to sell off their properties and move into rental apartments. If this happens the rental market should become more stable as landlords will have a greater chance of finding tenants.

A full housing market recovery to the prices which were there prior to the recession is expected in late 2011 up to mid 2012. Property prices will continue to fluctuate till the end of this year making it perfect for first time investors as it will be less risky in the buyers market. Anything bought is bound to increase in value by around 2012.

As a Landlord proper property management is a must to benefit from the upturn in the housing market. Clear lets offers professional property letting services to both landlords and tenants.