Property prices in Britain are confusing shoppers

09.12.2010 09:59
Homebuyers in the UK were between a rock and a hard place: reduction of prices is, however, housing becomes more affordable because of the difficulty in obtaining a mortgage loan.<br /><br />According to the British mortgage company Nationwide, in November, house prices in the country fell by an average of 0,3% compared with the previous month. This is slightly more than forecast by analysts (0.2%). The main reason for the continuing decline in prices - bringing to market new projects, says Telegraph.<br /><br /><strong>The situation on the market</strong><br /><br />House prices in Britain began to decline in mid-2007 and for the half year fell by 18%. Minimum was reached in the spring of 2009. Then, during the year, prices grew - slowly but steadily. However, in 2010 the market once again recorded a decline that continues to this day.<br /><br />According to Martin Gahbauera, chief economist at Nationwide, in the near future flow of offers may dry up as sellers take into account the price drop and may take a wait-to wait for more favorable market conditions.<br /><br />A similar situation was observed in late 2008 - early 2009, when a similar behavior of market participants has led to a sharp reduction in supply and falling prices.<br /><br />The situation is complicated because often potential buyers can not get a mortgage. Thus, despite the decline in prices, the number of transactions is still declining.<br /><a href=""><br /></a><br /> <script type="text/javascript"><!-- google_ad_client = "ca-pub-8426615393746993"; /* 468x60широкий */ google_ad_slot = "0633076384"; google_ad_width = 468; google_ad_height = 60; //--> </script> <script type="text/javascript" src=""> </script>
Content tags: Overseas property
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