Tuesday 27 January 2009
REAL ESTATE ALLIANCE VIEW OF THE MARKET FOR 2009
With the expectation that prices are leveling out and the floor is forming in 2009, Real Estate Alliance agents expect to operate in a market with less speculation. Crucially, it seems that interest rates are going to reduce further. In fact, many anticipate that rates will fall close to 1.5% in Q2 2009. Coupled with the increase in mortgage interest relief for first time buyers, housing affordability will improve substantially in 2009. “These factors will combine to breathe confidence into the first time buyer market in the later part of 2009”, according to Paul Grimes, Chairman of Real Estate Alliance.