House prices across the country have fluctuated continuously over the past few years. In 2018, though, property for sale Cockermouth in areas around England and Wales are expected to rise by 1%, property website Rightmove predicts. The only place expected to see a decrease in property prices over the next 12 months is London, which will see a 2% fall. The 1% increase is said to be based on small and medium-sized property for sale Cumbria, with the average price of these houses currently at 302,865.
The news of this change in housing prices is both good news (for those selling) and bad news (for buyers). Even so, the trends in prices of property for sale Carlisle are so fluid and difficult to predict that, if you’re investing in a property and are concerned about rise in price, you shouldn’t let these small increases put you off. If the market continues to evolve as it is now, your house will increase in value over time, meaning your investment will be more than worthwhile.
Generally, the prices of property for sale Cockermouth vary depending on where about in the country you are. Data from last year proves this quite clearly: the North East and West Midlands had the sharpest increases at 4.3% each. The North West had a 2.4% increase, while London had a 1.8% decrease.
While the overall prices of property for sale Cumbria are predicted to increase by 1% over the next 12 months, houses that are typically bought by first-time buyers (properties with up to two bedrooms) are having an even higher price surge. These properties are expected to increase by an average of 3%, making the property ladder even more difficult to get onto. As ever, though, buying your first property for sale Carlisle is still manageable with the right estate agents and in the right area.
If you’re looking to buy your first home and are concerned about the new statistics, don’t panic – there are plenty of options for you when taking the plunge and finding your ideal property for sale Cockermouth.
What are the positives for first-time buyers looking for their dream home in 2018?
While the market of property for sale Cumbria is constantly changing, and this can worry new buyers, there are certain factors that are positive. One of these is that more and more new houses are being built across the country, bringing plenty of opportunities for buyers. Last year alone, there were 20% more new homes on the market than that of 2016.
Further to the fact that there are more houses available, there has been a 10billion boost for help-to-buy schemes for first-time buyers planned for 2018. Stamp duty being abolished for properties under 300,000 also has a big impact for young or first-time buyers. It may seem, for many reasons, that buying a property when you’re young is impossible. However, there are plenty of schemes in place to help first-time buyers get their ideal property for sale Carlisle. Making an appointment with your local bank and estate agent is a good place to start.