House prices fell for the seventh month in a row in January.
Housing intelligence firm Hometrack said the average cost of a home in England and Wales now stands at £153,600, down 0.5% on December's figures and a fall of 2.2% from last January. Uncertainty over the economy and the potential for future interest rate rises, caused potential buyers to continue to sit and wait in the face of house possible future price falls. Estate agents have reported that there were signs homeowners are becoming increasingly reluctant to put their properties on the market, with the supply of new homes for sale falling by 5.4% during the month - the biggest drop for four years. Richard Donnell, director of research at Hometrack, said: "There are no signs of a New Year bounce for the housing market as 2011 begins with a sluggish start. The supply of new homes coming to the market continues to fall but it is the change in demand that we need to pay most attention to, as this will have the greatest impact on pricing levels in the first half of 2011." However, experienced investors and cash buyers are back in the market with avengence, with many buying property at a significant discount to market value. With strong rental demand and agents / vendors willing to take offers - investors are sensing that 2011 could be a good year to increase their portfolios. Contact us to find out more and what strategies investors are using in this region. www.iqpropertyhull.co.uk or if your looking to let your property, see our bespoke services - http://www.iqpropertyhull.co.uk/landlords/our-services
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