24 Aug

Homebuyers urged to continue buying properties

Homebuyers urged to continue buying properties

Homebuyers have been encouraged to look into purchasing houses for sale in the UK during the second half of the year.

This is after director of research at Savills Jacqui Daly suggested that the property market could slow down for the second six months of 2010.

She said: "We do expect transaction activity to stay low - where it is now."

Ms Daly added that this is the result of a slowing economy and restrictions from mortgage providers to offer loans to prospective homeowners.

However, this news could come as a good sign to homebuyers who have been offered a mortgage deal and could benefit from a less competitive market.

Ms Daly's comments came after Santander revealed that between June 2009 and August 2010 1.1 million people in the UK tried and failed to sell their properties.

This is compared with just 725,000 successful transactions for houses for sale.

The financial services provider found inability to get a mortgage deal, find a suitable home or raise enough deposit were barriers in allowing people to complete purchases.ADNFCR-1222-ID-800037839-ADNFCR

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