Falling house prices present opportunities for first time buyers

With the rising inflation in the population, the world is becoming a small place to live in. The people are finding it difficult day by day to find a suitable home to live in. The house prices are expected to fall by around 12% this year and also by 6-8 by the year 2009. The top to bottom fall in the house prices in UK is expected to be 19%. But this downfall is going to give some good investment opportunities in the property sector. The bank of England left the interest rates on hold at 5%. At the same time it emerged that the house prices had fallen further last month, dropping another 1.7 per cent. The average UK house price has fallen to £177,350. Though there is a downturn in the london property, it is sure to provide some good buying opportunities. It is expected that the price is going to increase in the next 18 months and should be taken advantage of. It is being predicted by various firms that by the year 2010 prices will be down for first 9 months as the overhang of properties in the market begins
to reduce. By the end of 2010, price growth will start around 1-3% a year, while the year 2011, more hike in the prices due to some fundamental influences is going to happen.Specially Clerkenwell, Euston, bow, wapping and Barbican Property.

During the time span between 2010-13, there is expected a price growth of 9% but it could even increase to 10%. The regions of London and Southern regions are expected to outperform others after 2010.

Jones Lang Lasalle, a charted surveyor believes that a fundamental shortage of homes – particularly in London – will encourage a hike in the house prices, fuelled by migration and an increasing demand. The shortage of properties will be aggravated by the reduction in new properties being built during 2008 to 2010.The importance of housing as a necessary commodity, an ambitious desire and an asset for investment purposes will remain firm in the medium-term.for more inforamtion about barbican, clerkenwell, bow, aldgate property, please visit leading clerkenwell estate agents site.