The Government Wish to Prevent Another Property Boom
It’s often found that during the winter months the property market remains subdued, and traditionally it picks up at around spring. Unfortunately property transactions still remain weak and we are currently seeing levels at about half of that pre crash.
We did experience a slight flutter of activity in the later months of 2011 and early 2012 and this was largely linked to a stamp duty relief coming to an end. The property market has largely remained stagnant now for the past twelve months with a general shortage of house buyers and sellers there has also been little movement with house prices currently due top a buyer seller stand off.
Why can I not sell my house quickly
The UK government has certainly lent it’s arm to the banks and have introduced a
In the past interest rates have always been the only available tactic for governments to use when trying to stifen off inflation and prevent a housing boom. They have now realised that this tactic has failed to work and are discussing other more cunning plans. There has been talks that if the housing market were to start speeding up too quickly, the government could intervene with the availability of mortgages and that is certainly a tactic that could work. The discussions have included lowering the amount of loan to income and also keeping deposit requirements high. By stiffening the availability of mortgages in this way the government could certainly put a pin in any future bubble.
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