The slump in the housing market has reached a suitable low to attract interest from bargain hunters. In November the Royal Institution of Chartered Surveyors (Rics) reported a rise in buyer enquiries, although these enquiries are yet to be seen in actual sales with the lowest volume of house sales recorded for around 30 years in the 3 months leading up to November.  

If you can get a mortgage it is a great time to buy with interest rates at the lowest they have been for over 50 years and house prices lower than they were last year. Plus with an influx of repossession properties due to people not being able to keep up with their mortgage payments you could find a bargain.

The rise in interest for property was noticed largely in the South West and the West Midlands.

In England and Wales, estate agents continue to see a fall in the average number of houses sold per branch. In the 3 months leading up to September, October and November it was 11.5, 10.9 and 10.6 houses sold per branch respectively.

House prices continue to fall which is enticing investors and first time buyers to make enquiries. The Halifax has measured the fall in house prices for the year to stand at 14.9%. Some industry experts do not believe we will see a return to growth until 2011 and expect that in 2012-2013 will see us return to annual growth of 8-9%.

Related posts:

1. Home Sales Lowest Since 1978
2. Property sales continue to plummet
3. Be patient when saving to buy a property
4. A buyers market
5. UK Property News July 15 2008