Merry Christmas and a lethargic new year
Article Catergory: Debt Mangement Help and Advice
New year lethargy will set in regarding buying houses unless you are a first-time buyer or an investor, according to a survey by a property information website.
Propertyfinder.com says that, according to a ‘resolutions’ survey it carried, out respondents were less likely to move up the housing ladder in 2008 compared to 2007.
Warren Bright, chief executive of property finder.com, said the survey illustrated that people do not regard spending money on houses next year as a priority.
He did say though that there were opportunities for people looking to buy their first property or speculators.
"The prospect of a weaker housing market is giving a boost to the chances of first time buyers and investors," he said.
Mortgage applications in general are widely expected to fall in the new year as uncertainty in the financial markets as a result of the credit crunch continues to cloud the horizon.
Expert opinion, as always, is divided as to whether the cost of property will fall, rise or stagnate; however, there seems to be a growing consensus that the bubble will, if not burst completely, somewhat deflate.
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