The UK housing market has seen lots of ups and downs( mostly downs) during the last few years. However it seems like the market has finally stabilised and many regions are seeing prices increase slightly. The most recent information from WhatHouse? showed that average house prices have risen by almost £5,000 in 2011. So is now a good time to buy if you are a first time buyer? While prices have gone up slightly they are still less than they were at this point last year. Forecasts for 2011 and 2012 differ considerably depending on where they come from. Overall the general consensus seems to be that the market will see some small gains but will remain fairly stable. So if you’re a first time buyer now is a great time for you to start looking. Prices are not likely to drop and there are some great deals available on new homes. If you’re thinking about buying your first home or flat here are a few pointers: Mortgage and Other Expenses The need for big deposits has slowed activity within the housing market significantly. With a lack of new buyers entering the market it’s taking a lot longer for homes to sell. In fact the number of sales in 2010 reached a record low. However while most loan companies still reserve their best deals for people with a 10% or bigger deposit there are signs of the constraints on lending easing. There are now far more 95% home loan deals available with competitive rates. A deposit is of course not all you need to save for when you’d like to buy a home. On some homes depending on the price you will have to pay stamp duty . You should also plan for solicitor and surveyor’s fees and also land registry costs. Do not forget the cost of furnishing your house and the fact you will be paying the bills by yourself. This can be quite an increase in your monthly budget if you’ve been living with your parents or in shared accommodation. New or Used Home? With the lack of activity inside the housing market there are lots of developers with a stock of unsold new homes on their hands. Several developers are offering some terrific deals and incentives on the homes they have to help them sell faster which can add up to 10% of the asking price. A new home will also be built to better standards and come with a 10 year warranty. Although a used home might be slightly cheaper it will cost much more to maintain and heat. Shared Ownership Shared ownership schemes have grown to be a lot more common in recent times. They enable people to buy a share in a home that they otherwise would be unable to afford . A mortgage is paid on the part of the property you own and rent to a housing association that is the owner of the other share. You are able to increase the share of the property you own with time so that ultimately you are able to own 100% of it. Joining a shared ownership scheme means that you do not need to save for years to get a huge deposit and you can get on the property ladder a lot sooner. Another option is buying with a friend or group of friends. While this can seem like a good option it can be fraught with stumbling blocks for the unwary. Ensure that you make use of a lawyer to draw up legally binding contracts.

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As you will no doubt be aware the property market in the uk has had more than its fair share of challenges in the past few years. Mortgage lending has fell due to the recession and many regions of the nation have experienced significant falls in prices. With the housing market in the condition it’s in the decision to buy or sell a property is more difficult than at any other time. Fortunately if you are thinking of buying or selling a house in 2011 expert help and advice is no more than a click away. The What House? website brings you a wealth of knowledge with everything you need to know concerning today’s home market in the uk. It offers expert advice and assistance on topics such as affordable houses, property investment, mortgages and naturally buying and selling homes. One area which is of a great concern to many people is the cost of housing in today’s market. Even though there has been falls recently the price of property continues to be beyond the reach of many people especially first time buyers. However there are a number of affordable new house schemes which can help first time buyers take their first steps on the property ladder. Housing associations along with new home building firms provide reasonably priced new houses and the Governments HomeBuy initiative has helped thousands of people to buy their first properties. Property prices are one thing which is never far away from any home owners mind particularly when it comes to making a decision to move house. The What House? website provides a house valuation service which can swiftly and accurately value your property. All you need to do is enter a couple of details about your property and the house price calculator will work out the value of your house. Prices are determined using up to date information from Land registry, ONS and also the real estate markets. In only a few minutes you will receive a report with the price of your home as well as useful information about schools and health in your neighbourhood and how you can improve the value of your home. To make certain that you stay current with trends within the property market and get all the property news you require visit the What House? web site today.

For the latest about housing associations visit the website.