Prospects for the Housing Market in 2012

We were all witness to the weakened economy in 2011, but despite the squeeze, UK residential capital values have held up well. Remarkably, headline prices fell by just 1% last year, leaving them only 8% off the peak of 2007. Due to low interest rates and the scarcity of housing, the market found a way of operating despite the challenges.

Over the last 12 months, some regions saw an increase in demand for housing, for example in London where property prices rose by 4%. Despite the positives, the market will continue to be challenged and recent forecasts are accounting for this. Reports suggest that average UK prices are expected to fall by 3% in 2012 and remain flat in 2013.

With this outlook in mind, if you're thinking of selling your property or investing in a new home, why not pop into your local Prospect office and speak to a member of our friendly team? We can provide you with expert advice, whatever your current situation, helping you to understand all of the opportunities that are available to you.

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Source: http://www.hometrack.co.uk