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Property seekers 'may be rewarded with price drop soon'
Posted by Helen Jones
People attempting to get together sufficient funds for a deposit on their first residential property may be "rewarded" when house prices fall in the future.
That is according to Matt Griffith, spokesman for national campaign PricedOut, who believes prospective first-time buyers are likely to find it easier to climb the property ladder when costs decrease.
Mr Griffith explained that this should provide a "glimmer of light" at the end of the tunnel for people struggling at present, as the "next few years" hold the prospect of falling prices in the market.
Last week (May 23rd), Labour leader Ed Miliband stated that the Conservative-Liberal Democrat alliance is making it "harder not easier" to provide homes and meet the demand present in Britain following the recession.
Mr Miliband stated that action is needed sooner rather than later to enhance access to properties, but the PricedOut official insisted that drastic measures like reintroducing 100 per cent loan-to-value rate mortgages would "not be sensible".
31/05/2011 14:59
News category: Property