Nicholas Ayre, of UK buying agents Home Fusion, said: “Prices are being supported by low supply and low interest rates. Both are counter-balancing weak demand. The 1pc annual growth figure is artificial and in no way reflects an underlying strength in the market.
Nicholas Ayre, of UK buying agents Home Fusion, said: “Interest rates and mortgages are key. If the Bank [of England] rate remains at its current level, and if lenders do not go back into their shells, 2012 could see house prices continue to stagnate rather than collapse. That is probably the best we can hope for.
Your mortgage lender’s survey is only a basic assessment to confirm the property valuation, it won’t flag up structural problems, says Nicholas Ayre, director of UK buying agent Home Fusion. “If the house was built in the last 30 years, you should commission a homebuyer’s report, which costs around £450. For older properties, consider having a full structural survey, which will cost around £700.”