The property website Rightmove has just disclosed that house prices across the UK have suffered their biggest drop in five years, with the average asking price having dropped £8000 (£23000 in London) over the past month.
“This could lead to a significant movement in the housing market in early 2018”, says Bob Bouch,Consultant Property Lawyer at Kirkham Legal,”as this, coupled with the November Stamp Duty bonus given to first-time buyers in the budget, means it may well be the perfect time for many people to get a foot on the property ladder. We must also not forget that, despite the recent quarter point interest rate rise, mortgage rates are still exceptionally low, although this is likely to change, albeit slowly, in the future, so all of this points to now being an opportune time to move into the property market”.
Kirkham Legal are specialist property lawyers who provide excellent client care, so please contact us if you need guiding through the house buying process.
Our Practice Licence Number is 11250.