Optimism for home owners
I like to see myself as an optimist, and I truly believe that we have seen the worst in the recession and that moving forward we will start to see an upward trend. This is backed by news today from Nationwide, the UK’s largest building society stating that, there is a “reasonable chance” that house prices could end the year higher than they started.
“House prices have been remarkably resilient so far this year, despite a recessionary economic background with sharply rising unemployment,” said Martin Gahbauer, Nationwide’s chief economist.
The government also announced on Monday that hundreds of housing developments which had been put on hold over the last 12 months will be restarted again with a £925m investment to kick start the industry.
Good news for home owners, bad news for first time buyers
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