House Prices Predicted To Remain Flat Until 2012

According to Zoopla, house prices are not likely to change until next year, owing to the less demand in the market. Jon Brown, partnership manager at the change of address service, said prices are remaining fairly static as many people are being forced to rent their properties out and are only putting them back on the market when they see that there is a demand.

He said that he does not expect banks and lenders to offer any help to people who want to buy in this failing scenario. The banks are only seen to tighten their rules and regulations to the lenders and those who wish to borrow more than 75% mortgage, are often turned down. Contrary to a popular belief, new trend is also to be seen, that is acquiring normal mortgage seems less tough than acquiring an interest mortgage from banks and loan lending organizations. He expects the things to keep moving at a slow pace, devoid of any significant changes.

Mr Browns words agreed to the latest figures from the Royal Institution of Chartered Surveyors, released on April 12th. The report stated that demand for property experienced a slight downturn in March, with six per cent more surveyors reporting a fall rather than a rise in new buyer enquiries. However the report shows considerable regional changes, with surveyors in Scotland, Wales and South East England seeing a gradual increase in demand.

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