Signs for optimism as house prices pick up

Despite a yearly decrease of £1,982 from the year to April 2013 prices are up £2,430 from than December 2012.

The latest figures from LSL Property Services also show the average house price is now £143,965.  

Alan Penman of Walker Fraser Steele, part of LSL Property Services, said: “There has been an uplift in first-time buyer activity in recent months, in part due to various Government schemes designed to make it easier for people to borrow — particularly high LTV borrowers.

“As a result, sales in April have surpassed forecasts, rising 14%, which reflects the improving mortgage market.

“Traditionally March and April are the busiest months of the year due to the boost in temperatures, better weather and longer days resulting in a lot of property sellers viewing it as prime time to get their properties on the market.”

LSL predict the next few months should see further improvements in first-time buyer numbers as the Funding for Lending scheme really takes hold.

Today's Conveyancer