Thirty six percent of Britons ready to buy UK property

on Mar 26, 2015

It seems that confidence is slowly drifting back to the UK property market as a number of investors believe that now is the perfect time to buy. Despite several different issues plaguing the housing market at the moment, 36 percent of people share the opinion that now is the most opportunistic time to invest in property.

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The latest Property Tracker report from the Building Societies Association (BSA) shows that buyers are now more optimistic about the market after the mid-2014 dip. It was during this time that new mortgage regulations were introduced alongside stringent rules to limit lending in the housing market.
However, there are still barriers to investors being able to get onto or advance up the property ladder. Raising a deposit is the hardest barrier to overcome, despite wages and employment levels increasing. From the total number of people surveyed, 59 percent stated that managing to secure the deposit was their main issue with being able to buy a home. Roughly 12 percent of people said that repayments on loans would be something of a continuous struggle for them.
First time buyers are believed to be in an exceptionally good position at the moment, with a number of benefits being available to assist them. With George Osborne’s announcement of the help to buy ISA, the alterations in stamp duty taxes, low mortgage rates and zero inflation, first time buyers are estimated to be making an overall saving of £12,000, according to Paul Smith, CEO of independent estate agency haart.
However, investing in property within the UK might not be to everyone’s taste. Entrepreneur and investor Jim Mellon, believes that now is the time for Briton’s to invest in overseas property. Having reportedly amassed a fortune of £850 million by correctly identifying various trends in the markets, Mellon has now recorded a series of videos with Telegraph Money, in which he shares his opinions and views on investing in property, building his fortune and his own mistakes in the real estate world. He believes that now that the euro has slumped, Britons should take advantage of buying properties in Finland, Germany and even Spain.


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