A Divided Market:

According to the most recent report revealed by the Royal Institution of Chartered Surveyors, property sales will increase by the end of 2012 as house prices will continue to fall. 

The report advises that the increase of loans from banks and building societies together with better mortgage rates will ensure a necessary lift in the property market. However, as money starts to exchange hands on a consistent basis, it seems first time buyers, landlords and those eager to move will benefit from consistently low property prices. The same report advises that although the increase in available mortgages will help to get the property market moving, it will be the vendors who are forced to compromise as they have no choice but to sell in a buyers market. 

However, what is most interesting about this report, is that it also advises London and commuter towns are unaffected by this slump in property prices, as in such areas prices continue to increase. In an area high in demand it is clear that the property market has returned to its' state as a seller's market. A market where the vendor is able to let their house go for a reasonable price where they may have even made a profit.

It seems that this recent report by RICS not only shows a sheer divide in the property market between different areas of the UK, but also aims to suggest that the property market will improve through the developments in lending banks and building societies. Like many other industry related professionals, we at BPC have observed movements and changes in the property market with baited breath. We hope that this development will ensure a positive change for the property market.. for both buyers and vendors.