When you're happy and you know it - buy a house!
All this got us thinking – and we came to the conclusion that if there is one thing the British househunter needs at the moment it’s a fix of positivity.
A quick flick through the papers most days and you’d think our homes were doomed and will soon be worth about as much as a boiled sweet.
Seriously every time someone reports a drop in house prices by a fraction of a percent the nation goes into panic. We seem to forget that none of the figures released are particularly reliable which is why the Government’s chief advisor on official statistics recently called for a single official house price index.
To give you an example of what I mean - the Halifax and the Nationwide both produce their statistics based on properties bought with one of their own mortgages – which explains the frequent disparities between the two.
But us Brits are nearly as interested in house prices as the weather (myself included) so here is my fix of positivity for you all property cynics on this murky Wednesday morning:-
- Approvals for home loan mortgages increased slightly towards the end of last year – according to Bank of England figures released on 4 January. Ignoring the effect of the Big Freeze we ended the year on an upward trend.
- It wasn’t just mortgage approvals that went up either. In the period October to December the economy expanded 0.4 to 0.5% prompting experts to declare a second recession aka “double dip” highly unlikely.
- Better still manufacturing is up strongly led by exports – fantastic news for home buyers and house hunters. To put it simply the Bank of England would be mad to increase interest rates when our economic recovery hinges on exports so we should all be able to look forward to record low interest rates for the foreseeable.
- According to the Council of Mortgage lenders credit criteria loosened for first time buyers in November – not enough admittedly but it’s a good start and hopefully a sign of better things to come.
- The housing market will soon be suffering the age old problem of supply v demand – we simply don’t have enough homes in the UK to meet the ever growing population. Whilst bad news for some this does pretty much guarantees that most of our homes will be a solid investment long term.
- And last but by no means least we have a nationwide campaign designed to help househunters into their new homes – and if that doesn’t lift your spirits what will?! Buy with us before 20 February and you will get £500 towards your utility bills and £500 in M&S vouchers. If you haven’t got the deposit you need ask us and we may well match whatever you’ve got. If you can’t get a mortgage we can help fix that for you too with our Shared Equity schemes (Homebuy Direct and Miway) and if you are struggling to sell well that’s another problem we can easily fix. Ask us about MiSwap the only home exchange in the country that allows you to part exchange your home whether your new one is bigger smaller – or about the same.
So there you have it. Now if you’re happy and you know it – buy a home. (Well you can’t blame a girl for trying can you?)
Sue Warwick - National Sales and Marketing Director Miller Homes