The Housing Market of 2012: Flat or Falling?
Previous predictions for a flat housing and mortgage market in 2012 now look optimistic; the likelihood is that lending will slide and the housing market will suffer another dip. Worryingly, the rate at which banks lend to each other – LIBOR – is creeping upwards towards 1.05%: banks will look to pass these costs on to consumers and, thus, mortgage rates will rise and loan-to-value lending will fall. Come the New Year, banks will find it difficult to increase their loan books.Unfortunately, in a concerning cycle, instability breeds a lack of confidence and a lack of confidence means a weaker market. If the struggle to obtain mortgage lending continues and worsens as experts predict, we will see a floundering housing market moving through 2012. House price reductions will persist, people will spend longer waiting on the market and potential buyers will be wary of committing to a purchase. With investors dominating the mortgage market and rents increasing, many people will be priced out of both sectors of the housing market.
Amidst the gloomy predictions for next year, Quick Move Now are in the unique position of being able to offer a guaranteed sale. In order to avoid the uncertainties and instabilities of the current market, homeowners can explore Quick Move’s service confident in the knowledge that we use cash funds to buy, do not charge fees or oblige you to accept an offer and can complete when you need us to. There is nothing to lose in requesting an offer and everything to gain from accepting one. For a secure, guaranteed and hassle-free sale, contact Quick Move Now for more information on freephone 0800 068 3366.
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1 Comments:
It is looking incredibly gloomy for next year, but with more affordable homes slated for completion as of next year, and hopefully more to come, it may allieve a particularly difficult time fo the housing sector.
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