Residential property prices are increasing at the quickest rate since the peak of 2006 with market recovery taking place across the UK. This can only be good news for providers of loft conversions on the Wirral and in other areas of the country, as more prosperous home owners look to make improvements to their houses.
July also saw the highest growth level for more than four years when it comes to the number of new home buyers, a further indication that recovery is just a stone’s throw away, according to the Royal Institution of Chartered Surveyors (RICS).
Looking to the future, the number of surveyors expecting prices to rise over the next year has increased by 35 per cent, with a growth of 53 per cent in the number of those expecting sales to increase in the next three months.
Global Residential Director for RICS, Peter Bolton King, said:
“It looks like at long last a recovery could be around the corner. Growth in buyer numbers and prices have been happening in some parts of the country since the beginning of the year but this is the first time that everywhere has experienced some improvement.”
Property websites, estate agents and lenders have reported impressive surges of activity in 2013 after a number of Government initiatives were launched with the aim of unblocking the housing sector.
As well as an increase in first-time home buyers, sellers seem to have increased in confidence when it comes to adhering to the original asking price, amid an improvement in mortgage availability.