With houses prices falling all over the world are world property prices good for the UK? This is becoming a real benefit for people who have the money and want to buy. A resent survey has revealed that house prices have fell all over the world as the recession starts to take a real grip.
Looking at rate house prices are falling in the UK it can be seen that it's not as serve as some other parts of the world. For example in Latvia's capital houses prices have fallen by 37 percent. This is a much higher decline than in the UK where house prices have fallen by 18 percent.
If you have the money to spend then this can be good news to you as you can get some real bargains and really the only way property prices can go is up. This will see a great return on your investment in the future.
Following the Bank of England making further cuts to interest rates some people are paying no interest at all on their mortgage another great reason to buy now. If you have a tracker mortgage you will have been enjoying a cut in your mortgage for the last 6 months.
The bad news is that not all banks are passing on the interest rates. So this may not be good news for everyone. This is somewhat understandable considering the mess financially banks are in. Though considering the taxpayer is helping these banks out it does seem somewhat unfair that some banks are not prepared to pass the savings on to their customers. This all makes the British public more skeptical about banks its just unfortunate that we depend on banks so much. Things really need to be done to ensure that the correct lessons are learned from this which will help avoid this situation in the future.
SO to recap if you are in the lucky position where you have some money then there has never been such a good time to buy and with interest rates so low this will make your investment far more attractive. However not everyone is going to be in this situation as many people are being made redundant and buying a home is more likely the last thing on their mind.
Renting has become understandable more popular in resent months SO for houses to rent in Birmingham and would check out here they also have great houses to rent in Liverpool
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