QCFP Comments On The Effects Of Low House Prices On First Time Buyers

At first glance low house prices would seem to be a gift for first time buyers. However, even though prices for first time homes are, on average, 2.1% cheaper than they were 12 months ago, the numbers of first time buyers able to take advantage of these prices is low. When it comes to house prices, low is a relative term. The majority of first time buyers still need a mortgage, and while mortgage applications are up, there are still a large number of potential first time buyers who cannot meet the down payment criteria of many mortgage companies. Until this situation changes, the housing market is unlikely to progress.

QCFP Investigates Opportunities For Home Owners Who Need To Sell Quickly

With the housing market likely to stay depressed for the foreseeable future, the traditional route of putting a house up for sale and waiting for buyers to flock to the door no longer works. This leaves homeowners who need to sell quickly looking around for alternative options. Private sales are one option, but this still leaves the home owner with the challenge of finding a buyer. Another option is to use a property purchase company.

QCFP Reports On Why The Housing Market Will Take So Long To Recover

The housing market will not recover until supply and demand is rebalanced. Currently there is no shortage of houses for sale, but there are not enough buyers purchasing them. This is keeping house prices low. The market cannot recover until there is movement on the bottom rung, which means starter homes and first time buyers. However, whilst numbers of mortgage applications and approvals remains low, this part of the market will not be able to pick up sufficiently to drive growth in the rungs above. One glimmer of hope is the rise in so called 'mates mortgage' applications, where friends can pool their resources and purchase a house together.

One reason for the pessimistic views held by both lending companies is the annual fall in housing prices. Halifax found that while the average price of housing rose by 1.2% over May, it had actually fallen by 3.5% from June 2010. The NBS's survey was not quite so dismal, but still reported a drop in price from a year earlier. Their numbers only show a 1.1% drop from June 2010, but they also show no improvement in June over the previous month.

QCFP Examines the Causes

There are a number of reasons for both the monthly rise and the annual fall in housing market prices. Halifax claims that the rise has been due to a combination of unprecedented low interest rates and a small upswing in employment. The bank has kept interest rates at 0.5%, the lowest rate in UK history, in spite of an announced increase earlier this year. Additionally, the unemployment figures have fallen by a small amount over the last few months.

These small improvements have not been enough, however, to counteract the larger trends of unemployment and poor economic stability. Unemployment is expected to rise again, and will peak in the fourth quarter of 2011. Additionally, a rise in personal debt, combined with stringent lending restrictions on first-time home buyers, has made it difficult for many people to buy a home.

QCFP Discusses the Future

In spite of the headwinds reported by Halifax, there are some reasons to be optimistic. The economy is slowly improving and, although unemployment is expected to peak later this year, it may drop off after the peak. Additionally, the numbers may not be as bad as they appear. While it is true that housing prices have fallen, the second quarter only saw a drop of 0.5% from the first quarter of 2011. This is the smallest quarterly decrease in a year. Nevertheless, experts at Halifax and the NBS say it may be a long time before the UK housing market sees prices like those it saw before the recession.

Welcome to QCFP, a company specialising in many areas of the property market including properties bought for cash across the UK. We offer simple, straightforward advice and great deals for those requiring quick cash for homes, either flats in Edinburgh or houses in Birmingham; we find the best solution for you and can assist you when selling property for cash.

QCFP offers you a vast wealth of knowledge and experience spanning over 40 years and can easily guide you along the right path when wishing to sell your home for cash, quickly and easily. If you are looking to sell homes for cash to pay off high debts or to avoid a possible repossession, QCFP will happily talk to you about setting up a quick house sale.

For many of you looking for quick cash for homes in the UK, perhaps due to a decision to emigrate to a warmer climate or for whatever the reason, we offer the right help and advice when selling property for cash. If any of the following apply to your situation, then the chances are that QCFP can help solve all of your problems with just a simple phone call:

• I need to sell my house now
• I want to sell my house free of charge
• I can't sell my house because it is in poor condition or in urgent need of repairs
• I would like to sell my house privately without putting it on the market

Whatever your circumstances, QCFP can give you the cash you need to sort out any financial situation, quickly and efficiently.

Call the team at QCFP straight away and let us start finding the right solution for you as soon as possible.