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News Round Up – Wednesday 13th May 2009

May 13, 2009Article by Ray Withers

This morning the press has taken a more optimistic tone on the state of the housing market.

The Independent lead with “House prices fall easing

“House prices in England and Wales fell at their slowest pace in 15 months in the three months to April while new buyer enquiries rose at their fastest pace in a decade, a survey showed today” The article goes on to say that the Royal Institution of Chartered Surveyors’ (RICS) price balance had moved to –59.9 last month it’s best showing in nearly 18 months and a big increase from –72.1 in March.

More: Independent – House prices fall easing


The Guardian report on the construction industry with “Housebuilders see signs of construction slump easing

Two of the largest homebuilders in the UK have seen signs that the market is starting is starting to improve Redrow and Galliford Try have reported they are starting to commission homes again. With help from parents, first time buyers are re-entering the market and Redrow have even taken the steps to start increasing staff numbers. Galliford Try meanwhile said that they were starting to sell houses at the same rate as they were last year, and that prices achieved were on par with those seen in the autumn. The Guardian also cover the RICS survey story.

More: Guardian – Housebuilders see signs of construction slump easing


The Telegraph also cover both the above stories.

Telegraph – Redrow to recommence house building

Telegraph – House prices in Britain rise for first time in 18 months


So, the daily broadsheets are in unison and it seems their is a little bit of positive news creeping into the property market. It must be stressed though that this is an improvement on a pretty dire situation and it may not be the green shoots of recovery that we keep hearing, however, this is the time to be seeking the best deals. The more positive news we hear in the media, the less likely developers will be keen to offer the large discounts currently available.

Written by: Christopher Chadd


Ray Withers

Ray has over 17 years’ experience in the international property market and bought his own first international property investment back in 2002. Aside from running Property Frontiers, Ray has been involved in residential, hotel, student and commercial property investment and development in both the UK and overseas and co-wrote "Where to Buy Property Abroad - An Investor's Guide". As Founder and Trustee of the Frontiers Foundation, Ray is directly involved with many of its projects to ensure they have a direct and tangible impact in individual communities across the globe. He is passionate about property, travelling, scouting out new opportunities and finding time to spend with his young family.
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