| The housing market is stabilising and, with many | | | | brought with it plummeting house prices and the |
| people thinking seriously about moving home, one of | | | | urban apartment sector was the hardest hit - |
| the factors involved in buying or selling is the | | | | according to the land registry, there was a fall of 19.5 |
| variations in house prices by postcode. | | | | per cent in flat prices in England and Wales. |
| If you are looking to buy a home in the UK, often | | | | Buy-to-let investors at the time were hit hard by the |
| your area of choice is decided by factors such as | | | | fall and the cautious nature of the banks further |
| family (close to or away from), school catchment | | | | exacerbated the financial situation. Some developers |
| areas and job location. However, with house prices | | | | collapsed while, in some cases, administrators came in |
| varying by postcode the difference in price is another | | | | to restore money for creditors. |
| consideration for potential homebuyers. | | | | There are cases of developers going bust due to |
| Although house prices for similar properties vary | | | | buyers reneging on purchase agreements, with more |
| nationwide, it is often the choice between city or | | | | cases being heard in the courts. These, however, |
| suburb that is the main consideration. Of course, | | | | most often apply to the buy-to-let market. |
| many young, single professionals favour city flats | | | | Buy-to-let investors are unlike most home buyers in |
| while many families opt for larger homes and | | | | that they have a tendency to exchange contracts |
| complete with gardens. | | | | and clear the deposit during the construction phase. |
| Should you want to live in the city or the suburbs, | | | | Some commentators have said that buy-to-let |
| there are still many differences and a search of your | | | | investors are getting stricter treatment than their |
| location on estate agent listings or online can reveal | | | | private buying counterparts as there are some |
| surprising differences. | | | | developers that are seeking legal president requiring |
| Within relatively small areas there can be differences | | | | these customers to keep to the contract and buy |
| between house prices by postcode. The trend | | | | theproperty. |
| towards urban living was a big feature of the past | | | | It seems that there are still recession hangovers in |
| decade with the fashion for city living demonstrating | | | | the new growing economy, however, there are also |
| the volatility in the housing market. | | | | many new developments and bargains for buyers |
| Fortunately, however, stability has returned to the | | | | looking currently. |
| housing market offering great incentives to buyers | | | | Overall, it is an encouraging time for the housing |
| who want to move up - or just get their first foot | | | | market in general. With the economy growing slowly |
| on - the housing ladder. | | | | and steadily, those buying property are in a stronger |
| While the housing boom was in full flow, developers | | | | position now compared to the past few years. |
| scrambled to erect city apartment blocks with new | | | | When you are looking around for your new home, |
| urbanites and buy-to-let investors the main target for | | | | bear in mind the differences in house prices by |
| these contemporary flats. | | | | postcode which, in real terms, is most apparent when |
| This meant that house prices in postcodes close to | | | | you compare urban properties with their suburban |
| city centres largely rocketed. However, the recession | | | | neighbours. |