Positive trends give the housing market hope.
Brett Alegre-WoodChairman, YPC Group
Hey guys
I am back from my honeymoon in Alaska and at work bringing you the Weekly Property News. We had an amazing time, it was absolutely fantastic to see the wilderness and couldn't recommend it enough!
Anyway I am back and this week we see 8.1 billion pounds being paid back to lenders within the first 3 months of 2009. As homeowners feared the worst in 2007 and 2008, they ploughed their money into debts and mortgages. This is a huge amount being paid off. But have we forgotten about our savings and aren't savings an important indicator to consider?
We are also glad to see the government doing their bit to help the economy. They have again emphasised on building 20,000 new homes within the next 2 years and hope to create 45,000 new jobs. No doubt this will give the housing sector a big boost. We'll dive in to see how this will affect us as individual investors.
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And at last the Bank of England shows hope. Professor David Miles, a BoE policy maker last week offered encouragement on the housing market and how he feels this may be the end of the house price falls.
Finally we look at why the affordability measure is so important to us as reports predict property prices to be 10 times our average salary. But it's not all as it seems and you'll find out why from our review.
As always, if you have any questions or want to have a chat about current opportunities call the team on 0207 812 1255.
Live with Passion
Brett Alegre-Wood
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