13
Oct
Homebuilder expresses optimism
A homebuilder has expressed optimism about the future of the UK
housing market.
Gleeson Homes said the cut in the base rate last week and the
decision of many lenders to fully pass this on will help those
wanting to get on the property ladder.
Group managing director Richard Edgington also suggested the lower
cost of homes following recent price falls may make now a very good
time to buy.
Describing new properties as "exceptional value for money", he
stated: "Now is a good time to buy with every likelihood of better
times ahead if historical patterns dating back many years are
repeated."
Last month property portfolio management firm Young Group stated
that historically, house prices have only fallen in five of the
last 55 years and have always recovered in price over time.
On average property prices double every seven to ten years, the
company added.
