Market Update
With a tough year behind us – many forget that the housing market started to suffer in September 2007 after the Northern Rock fiasco – we are moderately optimistic about the year ahead.
Our statistics indicate that prices in certain cases are now some 20% lower than at the peak of the market in the summer of 2007. Whilst this is obviously not good news for all it does represent an excellent opportunity for first time buyers and investors and, interestingly, also makes sound fundamental sense for those moving up-market. In these cases the house of their dreams is now closer to being a reality and the gap in real terms is smaller than for several years.
The mortgage market seems to be changing by the hour and as always seeking professional advice from an IFA is to be recommended. Although base rates are astonishingly low it is the availability of money rather than the cost which is holding the buyers back. With potential forces in action to remedy this situation, however, we feel that market in 2009 will be seen as when house prices “bottomed out”. First time buyers should certainly have a peek at the bargains to be found!
Featured Property
Pyrethrum Way, Willingham, Cambridge
- 5 Bedrooms
- 2 Reception Rooms
- Double Garage
- Gas radiator heating
£315,000
A most impressive, improved and imposing five bedroom three storey detached residence enjoying a prominent location overlooking a small green. Five generous bedrooms, luxury ensuite bathroom, ensuite shower room, family bathroom, cloakroom, reception hall, attractive lounge with French doors to rear garden, stunning kitchen diner, utility room, double garage and ample parking, enclosed front garden and walled rear garden.
