House prices finally attract buyers

Posted: 09 Dec 2008 14:07:54 GMT

Home buyers across the country are beginning to return to the housing market, it has been reported, following a year of house price declines.

Research from the Royal Institution of Chartered Surveyors (Rics) highlights that interest in buying property has finally begun to turn to a positive, as buyers begin to see house price falls as an opportunity and not a threat.

Jeremy Leaf, of Rics, explained: "Many are starting to see the current market as an opportunity to purchase a previously unaffordable property despite the worsening economic picture."

The fact that buyers have started to recognise that falling house prices are a good thing is demonstrated by the increasing useage of gazundering tactics.

Homeowners themselves have also recently come to terms with the falling demand, as the last two weeks of November saw those sellers who dropped their asking prices do so by £17,000.

Sellers can still expect to wait up to three months to shift their property, however, although selling a property online could draw in more buyers and a faster sale.



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