Will your house Sell in 2009 | 05.01.2009

Santa Claus bought a timely Christmas present for the housing market, because, for the first time in more than two years, buyer interest has risen.

This reflects the drop in asking prices and the recent cuts in interest rates, according to a survey by the National Institution of Chartered Surveyors.

The report said: “Interest in the market nationally turned positive for the first time since October 2006, while expectations that sales volumes will also pick up remained positive. The biggest increase in interest occurred in the West Midlands.

However, the average number of transactions per surveyor fell again in November as a lack of mortgage finance continued to limit the ability of buyers to access the market.

Sales are proving ever more difficult to achieve in the housing market seeing about a 10 to15 per cent drop in sales prices.

Interest in our auctions, however, has been very positive and can only hope that these will turn into actual sales.

There is some evidence that finance is becoming more readily available and may help kick start the market now that Christmas is out of the way.

Alongside this, many potential buyers and investors are starting to see the current market as an opportunity to purchase a previously unaffordable property despite the worsening economic picture.

“January is traditionally a busier time of year, with potential springtime movers buying up their future homes and will be a good chance to test the market’s temperature as to activity levels going into 2009.”