The property market in the united kingdom has seen substantial price falls during the last couple of years. However indicators are beginning to appear that the market has reached its lowest point with many different experts predicting small increases over the next 12 months. Data released by Zoopla in July stated that average house prices increased by about £5,000 in 2011 with the typical home in the united kingdom now costing £216,534.

So is now a good time to purchase or should you hold out a little longer? Whilst prices have risen slightly they are still lower than they were at this time last year. The outlook for the rest of 2011 and early 2012 varies on whom you listen to. However most experts are of the opinion that the market will stay flat or see small price increases. So for first time buyers I would say now’s as good as time as any to enter the market. Whilst prices might not increase much further they are unlikely to drop and you will get some good deals from many home builders on new homes.

if you are entering the market for the very first time here are a handful of tips to help you out.

Mortgage and Other Expenses

The requirement for big deposits has slowed down activity within the housing market significantly. With relatively few new buyers going into the market the number of properties sold reached a record low in 2010. However while 10% mortgage deals are still the norm there are indications that lenders are easing their restrictions on lending slightly. More 95% deals have begun to appear on the market and while the interest on them may be a little higher they are still competitive.

A deposit is needless to say just one of the many things that you need to save for. You must also save for stamp duty, solicitor’s and surveyor’s expenses and moving fees. Furnishing your new household and decoration are other expenses you’ll need to meet. Finally it’s well worth finding the time to budget for the bills you will have to pay each month.

New or Used Home?

If you are thinking about buying a property should you choose a brand new or a used one? With the current state of the housing market there is a big stock of new properties that developers wish to sell. You can find some terrific deals on new houses with many developers lowering asking prices considerably. Many developers are offering incentives like free white goods or assistance with finding a deposit. Generally new properties are also cheaper to run and will come with a 10 year manufacturer’s warranty.

Shared Ownership

Shared ownership schemes have become a lot more common in recent times. They allow people to buy a share in a property that they normally would not be able to afford . A mortgage is paid on the part of the property you own and rent to a housing association that owns the other share. You are able to increase the share of the property you own with time so that eventually you can own 100% of it. Joining a shared ownership scheme means that you do not need to save for years to find a huge deposit and you can get on the property ladder much faster.

Another option you could look at is purchasing a home with a group of your friends. While this can seem like a good option it can be fraught with stumbling blocks for the unwary. Make sure that you use a solicitor to draw up legally binding contracts. Find new homes for sale in the UK on the WhatHouse? website.

There’s no doubt the United kingdom property market has experienced some challenging times in recent years. The volume of houses which are being constructed has gone down despite the fact that in many regions there’s a huge shortage of new housing stock. In lots of areas the consequences of the economic downturn and the credit crunch are still being felt and the number of new home loan approvals is at a very low-level. However it isn’t all bad news and plenty of industry professionals feel that the house market has bottomed out and prices are displaying signs of rising in some regions. These signs show that now could be a good time to consider purchasing a new house from a new home building firm. Should you wish to move home this year there are a variety of reasons why you should be thinking about purchasing a brand new home as opposed to a used one. First of all the construction quality of new houses is far superior to older ones. Modern building techniques and materials mean that brand new homes are much cheaper to run and are also a lot more energy efficient. In a time when most people are more ecologically aware this is a great thing. Brand new homes come with insurance schemes and a warranty to provide you with complete protection not to mention peace of mind. Buying a new home in a very sought after location with large rooms, fitted kitchens and bathrooms with all mod cons is certainly an exciting prospect for any house hunter. At the moment there are many great deals and incentives available from brand new home builders that make moving even easier. In case you are thinking about moving house this year and are trying to find new homes Hampshire, new homes Essex or new homes Kent check out the What House? website for all the latest news and information. It features a large range of brand new houses for sale and also expert advice for both buyers and sellers of property.