House buyers 'confident about market stability'
21st Feb 2012
Brits are increasingly becoming more confident about the state of the housing market, as more people realise UK residential property is the best investment for their money, one expert has observed.
Stuart Law, chief executive at investment advice company Assetz, said that people have come to realise that the UK housing market is "very stable" in most locations around the country so, providing jobs and employment are stable, house prices will follow suit.
He noted that February's asking prices are a good starting point, because they show that sellers are pretty optimistic, but are also being realistic that buyers are going to negotiate with them.
"They are putting the price up in order to be ready for any deals. I think people nowadays are expecting to be able to do a deal on the price, so by putting the price up, it gives them some leeway," the expert explained.
At the same time, the slight restriction in the number of properties coming onto the market means people will see some of that increase in asking price leading though to the selling price.
It comes after the latest UK housing market report revealed that new property sellers increased their average asking prices by 4.1 per cent in February, which is the highest monthly increase since April 2002.
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