Prospective sellers 'should prepare' for housing market pick-up

Posted: 27 Nov 2007 09:11:56 GMT

Homeowners looking to move in the next few years should carry out home improvements to boost their chances of selling when the housing market picks up again, according to a property expert.

Homeowners looking to move in the next few years should carry out home improvements to boost their chances of selling when the housing market picks up again, according to a property expert.

SmartNewHomes.com's managing director David Bexon said that the property market has experienced a slowdown in recent months as a result of the banking crisis.

However, he said that activity will begin to pick up once again in the New Year.

He advised prospective sellers to carry out home improvements in preparation for when the market does pick up.

"Given the upheaval and the slowing of the market over the last 2-3
years, homeowners may take short term measures such as home improvements
and extend their homes," he said.

"Building extensions or converting rooms and garages will be ways that homeowners will boost the value of their homes, ready for when the market picks up again."

Mr Bexon predicted that the average new home price will go up between two and three per cent over the course of 2008.


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