Since the start of the year there has been a host of positive news for the housing market from various bodies. This has resulted in confidence growing, causing house sales to increase as buyers increasingly return to the market.
At Lynch Estate Agents, we are often asked 'How much is my house worth in Woking?'. Well the most sensible way to answer this is to ask local agents who have the breadth of experience to inspect your property to ensure you have a realistic expectation of what can be achieved.
The housing market in Woking is certainly picking up with a number of sales being achieved. However when it comes to answering the question 'How much is my house worth in Woking?', well it can be argued that a house is worth what someone will pay - rather than referring to past data with regards to price. Buyers needing to move quickly will often be motivated to pay a handsome figure for a property if this means they can secure a quick completion to fit in with their personal requirements.
The RICS - The Royal Institute of Chartered Surveyors has recently again confirmed that the housing market is picking up, which has been witnessed by a number of surveyors. To read their latest report about the housing market click HERE.
The Bank of England has recently had their monthly meeting and have again decided to keep the bank base rate on hold at 0.5%, this move I am sure will help lenders to become more flexible in their lending criteria. We have seen in the last couple of months a number of lenders offering more competitive rates.
In March The Bank of England confirmed that the total number of mortgage approved rose to 48,901 compared to 46,882 from the month before, which was 17% more than in March 2009.
To read the announcement from The Bank of England click HERE.
Today (12/5/10) The governor of the Bank of England, Mervyn King, has backed the new government's deficit reduction plan, calling it 'strong and powerful'. To read more about his comments click HERE.
Having had the experience of 30 successful years in selling properties throughout Woking, I am confident that the signs we are seeing will lead to a steady recovery for the housing market in Woking. So when the topic of conversation arises at your next dinner party of the housing market and how much is my house now worth in Woking? call me on Woking 01483 772000 to be assured of achieving a sensible proactive approach and often a premium figure as buyer confidence increases.
Tony Lynch FNAEA