Adverse weather had 'minor impact' on housing market

Despite predictions that the adverse weather experienced in the UK throughout December would have a major impact on the property market, FirstRungNow.com claims it only had a slight impact on sales.

Helen Adams, managing director at FirstRungNow.com, said: "I think that demand is perhaps a little bit worse than last year and sales were down a bit because of the weather.

"It might have had an effect just before Christmas but I don't think that it is really going to significantly affect the market for the whole of the UK."

She added that housing prices may begin to dip in 2011 which will allow first-time buyers to purchase houses for better prices and in turn allow them to access the best mortgage rates on the market.

Ms Adams predicted that house prices will begin to dip in the second half of the year following a stagnant early 2011.

Many commentators believe lending constraints are likely to be relaxed in the coming months, which is good news for consumers and the property market.
 

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2011-01-26 13:59:54 © Moneyextra.com