Buyer 'uncertainty remains' for housing market
House sellers are outpacing demand from buyers, according to new research.
Data from Hometrack also showed an increase in property prices during April by 0.2 per cent.
Meanwhile, the number of houses being put up for sale increase by 3.7 per cent during this month and this coincides with a slowdown in agreed sales.
The lower demand for homes may be explained by a range of figures suggesting potential purchasers would struggle to get into the market, including lower mortgage lending, deposits becoming more expensive and equating to a larger proportion of an average individual's salary than ever before.
It is perhaps not surprising that first-time buyer home loans were at a 17-year low in the 12 months to February, according to GfK Financial.
News that buyer uncertainty remains, together with a continued increase in prices and a lack of mortgage availability, may encourage more people to look for property to rent in the London borough of Camden, or elsewhere in the UK, as a result.
By Andy Britten
Published 27th April, 2010
© 2010 Estates IT Limited
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More people may be encouraged to consider looking for property to rent in the London borough of Camden, or elsewhere in the UK, after a real estate price index revealed that buyer uncertainty was still a factor affecting the health of housing market.