New homes market 'will experience a positive 2011'

Posted: 29 Dec 2010 10:30:52 GMT

One expert has claimed the new homes market will do well next year.

The new homes market is set to experience a positive year, it has been observed.

Managing director of newhomesforsale.co.uk Vernon Pethard said a number of fresh developments are in the pipeline.

He suggested the only thing hampering the sector will be the fact mortgage firms are still adhering to strict lending criteria.

"The coalition government may be making some unpopular decisions, but there is a sense that problems that need tackling are being tackled," Mr Pethard noted.

He explained homebuyers now have more confidence in the market than they did before the election in May.

However, Mr Pethard claimed the coalition should seek a firm pledge from lenders in regards to student loans that many first-time buyers will have.

The expert's comments follow the release of a report from the Royal Institution of Chartered Surveyors, which predicted house prices will drop by approximately two per cent in 2011.

And the organisation forecast the number of repossessions will ease and should fall to around 33,000.
 

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