House prices are 'most affordable since 2004'

23-Mar-2009

Low house prices and falling mortgage interest rates are creating a positive housing trend, says new research.

The study by haart estate agents found that buyers are taking advantage of the most affordable house prices since 2004.

Russell Jervis, managing director of haart, said the data presented a "buoyant" picture.

According to the research in January and February, numbers of people searching for a home rose by 81.1 per cent and the number of house sales rose by 43.3 per cent.

"This trend is no doubt the result of buyers across the board taking advantage of the lowest house prices since 2004 as well as mortgage interest rates at record lows," Mr Jervis said.

This will be good news for first-time buyers who are struggling to get onto the first rung of the property ladder.

According to the latest Halifax House Price Index, there are some signs that the housing market may begin to stabilise.

The index showed that in April 2004, the price of an average home in the UK was £151,467, while last month it was £160,327.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

First-time buyers are saving more moneyAMI calls for more first-time buyer mortgagesTurner Review welcomed as good news for first-time buyers

2012: Feb | Jan

2011: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2010: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar