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04 Apr 2010
Let the Easter property hunt commence
Optimism is backed by the statistics from Nationwide reporting that house prices rose by 0.7% in March, almost wiping out February's 0.8% drop.
First time buyers have the benefit of a two year tax break, making it the perfect opportunity to get on the housing ladder. Financing is still an issue and lenders are asking for higher deposits for new-build properties.
Anyone who already owns their home - provided they have some equity - should be in a strong position to trade up, especially since the shortage of stock since the market over the past year or so looks to be easing up. The number of properties available is likely to increase by those trying to trade up to houses priced above £1m ahead of the stamp-duty hike.
If you are planning to buy your dream million pound plus family home you should start to look as early as possible, well ahead of the run-up to next April, when agents expect a rush of last-minute buyers trying to avoid the new 5% rate.
Happy house hunting.