WHAT PRICES MEAN FOR YOU

Loughborough Echo - - HOME ADVICE -

1. Fall­ing prop­erty prices mean a lower choice of homes on the mar­ket.

2. Fall­ing prices are good news for first time buy­ers as it makes get­ting onto the hous­ing lad­der eas­ier. It’s also good news for any­one want­ing to up­grade – yes, they’ll get less for their present home but the next one will also be lower – and the gap might be smaller.

3. Fall­ing prices are bad news for any­one down-siz­ing or get­ting out of the hous­ing mar­ket al­to­gether – go­ing abroad or sell­ing a de­ceased per­son’s home, per­haps. Some buy­ers will hold off ex­pect­ing the price to go fur­ther down.

4. Your home is for nest­ing, not in­vest­ing.

5. Fig­ures for towns are av­er­ages – the num­bers change from dis­trict to dis­trict and from street to street.

6. Which? Mort­gage Ad­vis­ers can help with mort­gage loans.

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