For somebody with a home on the market and needing a Quick House Sale there could be some good news from the National Federation of House Builders (NFHB). They have become buoyant about the UK property market with indications that there may be an upturn.
This is based on a survey of their members, house building businesses throughout the UK. Their members were asked if they had experienced any increase in sales activity over the last 12 months and 60 % of members confirmed that this was the situation. This means that buyers of brand new properties are at last starting to rise.
There will be a twofold positive outcome from this on property sales and the ability of sellers to get a quick property sale. Firstly, an increase in buyers for new homes almost certainly signals an increase in buyers for existing property. It is a sign of returning confidence amongst buyers and whilst that will not necessarily raise prices, it will at least stabilise them and anyone looking to Sell Home Fast can gain reassurance from this.
Secondly, an improvement in the new build zone will help to reverse the employment losses seen in the construction industry. NFHB estimate that 250,000 construction roles have been lost in the recent economic crisis, and there will have been more job losses in related industries, such as plant, supplies and distribution. A reversal in this trend will ripple through the economy overall and can only have a positive outcome on buyer confidence. As the prospect of further job losses begins to withdraw potential buyers will begin to return to the market. Once started the cycle of revival will become self fulfilling.
In the meantime however, NFHB warn that there remains one potential issue around the start of a proper recovery and that is the access to mortgages. Bank mortgage lending is still at incredibly low levels, approximately half of average levels. So even if buyers do now feel secure enough to enter into purchase transactions, they may be constrained from doing so by the difficulty in obtaining a mortgage.
So mortgage accessibility would seem to be the last ingredient in reviving the market. Those buyers insisting that their estate agents “Sell my Property fast” need to realise that the answer may not be with the estate agents. However, given the balance of government will to increase lending and steer clear of the credit bubble which caused much of the current issues, it seems likely that mortgage lending will increase in a steady way. It seems unlikely that there will be a swift explosion in availability, the increase will be gradual with mortgage criteria remaining cautious in the short term. Perhaps this steady recovery will lead to some long term constancy which will be of assistance to buyers and sellers alike.