13 Oct

Homebuilder expresses optimism

Homebuilder expresses optimism

A homebuilder has expressed optimism about the future of the UK housing market.

Gleeson Homes said the cut in the base rate last week and the decision of many lenders to fully pass this on will help those wanting to get on the property ladder.

Group managing director Richard Edgington also suggested the lower cost of homes following recent price falls may make now a very good time to buy.

Describing new properties as "exceptional value for money", he stated: "Now is a good time to buy with every likelihood of better times ahead if historical patterns dating back many years are repeated."

Last month property portfolio management firm Young Group stated that historically, house prices have only fallen in five of the last 55 years and have always recovered in price over time.

On average property prices double every seven to ten years, the company added.
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