As we progress into 2012 the lull of the festive period will gradually begin to pass and activity levels increase again. The outlook for buyers is gradually showing signs of improving, unfortunately the same cannot be said for sellers with a general acceptance that house prices will fall it is just a matter of when and by how much over the next two years. However many leading voices in the industry have indicated that we may well have weathered the storm in terms of credit availability and that we can expect lenders to be more forthcoming in the months to come.
For those looking to sell a house with the threat of further price reductions due to an increasing lack of confidence in the market the outlook is not the best. As such you should prepare yourself and agree on an amount that you do not want to accept less than, that is below the asking price, which will obviously depend on how desperate you are to sell. For those of you that have a desirable property in desirable area you will find they are very much still in demand, however you still need to make sure you present the house well to ensure it stands out from similar properties in the area.
If you are able to obtain credit with an affordable deposit and at a good rate now is really a great time to buy a house if it is a family home or long term investment, as prices may still fall from current levels.
Currently there are still restrictions on availability of credit and the best rates and deals can only be accessed by those with the largest deposits and credit worthiness. As such mortgage applications are still down and successful application levels even lower. There are a number of lenders offering better mortgage deals for those with lower deposits which is a sign of things to come. This slight progress is still very much exposed to the ongoing repercussions of the Eurozone crisis so the environment remains very fragile and susceptible to knock on affects.