21
Nov
House clearance sales 'to help first-time buyers'
First-time buyers will be aided by the increasing number of house
clearance sales taking place, it has been suggested.
Developer Countrywide Properties is one of the housebuilding firms
that has had to resort to a clearance sale to move unsold stock,
something that will offer first-time buyers an opportunity to get
on the ladder at a lower price than would otherwise be the
case.
Commenting on such sales, Seema Shaha, an economist at Capital
Economics, said: "It's been very difficult to get on the housing
market as the housing prices have been over-valued. For someone who
wants to get onto the housing market this is good news."
Such sales come amid a general dip in prices, which can be
advantageous for first-time buyers with access to mortgage
finance.
Falls recorded include the October survey by Hometrack, which
stated that house prices have dropped 7.3 per cent in the past
year, returning to the price levels of March 2006.
The Countrywide sale is taking place this Saturday, November
22nd.
