Recently released figures by the Nationwide Building Society have suggested that house prices have risen slightly in March. Does that mean that we have reached the bottom of the market? And how has this affected the demand for houses for sale in Cornwall?
Simon Williams from Percy Williams & Sons said that he believes that we have seen the worst and the market is definitely stabilizing. “Our new enquiries have increased in the last month and we are pleased with the feedback we are getting from our potential customers, however many first time buyers are still struggling to raise that all important mortgage because of the reluctance of banks to offer finance unless a buyer has a substantial deposit as the days of 95% mortgages have passed and even 90% mortgages are a rarity”. This is reflected in the levels of mortgage activity which is way below what has been experienced in previous recessions.