House prices picking up

The property market is picking up, experts say
The property market is picking up, experts say
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The Falkirk property market is moving again, according to local estate agents.

Across the country, experts say there is hope the market is picking up after being badly hit during and after the credit crunch.

Now those working in the industry locally say there is also more to smile about for those thinking about buying or selling a house.

Ross Gillespie, property director at JSB Gillespie in Larbert, said: “The recession began with the property market and this market is at the forefront of the financial 

“Lenders are lending with some of the lowest fixed-term mortgage rates ever seen, all aided by the Bank of England keeping the interest rate down.

“Our own experience has been that house sales have doubled in the last year.

“A number of houses are now going to closing dates and more people are achieving their home report figure and above within a matter of weeks.

“In one instance, a property sold for £16,000 over the home report value.”

Nationally, house prices are rising.

The Royal Institute of Chartered Surveyors said there is more demand from buyers and a shortage of supply.

And surveyors report that they are receiving more new buyer enquiries.

The Government’s Help to Buy scheme is also helping get first-time buyers on the property ladder.

Househunters can apply for for up to 20 per cent of the cost of a new-build home from participating builders.

Mr Gillespie added: “Lenders will start to offer loans to borrowers with five per cent deposits, the aim being to help more first-time buyers on to the property ladder.

“Confidence is high at the moment, but the signs are that interest rates will begin to rise by 2015 or 2016.

“There is no better time than now to enter the property market.”

Bobby Allan, manager at Slater Hogg & Howison in Falkirk said: “September was an amazing month for us.

“We sold 44 properties. Last September, we sold 30 properties.

“So far, October is going well too.

“There is much more confidence, more people looking for houses and more people getting mortgages in place.

“Things are definitely picking up, and long may it continue.”