My First Home Ltd.

Editor's  Letter 


Welcome to this week's newsletter. Continued uncertainty in the 
financial markets, affordability pressures and weak buyer confidence 
are all contributing to suppress levels of market activity. This is 
likely to continue through the summer months with pricing levels 
remaining under pressure.


According to the recent Hometrack survey house prices declined for 
the eighth consecutive month in a May with annual price growth 
falling deeper into negative territory. Average prices slipped by 0.5 
per cent over the month, which means that property prices are 1.9 per 
cent lower than a year ago. The latest survey shows that majority of 
price falls centred on Greater London and the South East of England, 
where values have slowing sharply from off a higher base.
 


First-time buyers are still witnessing further changes in the UK 
mortgage market. As lenders continue to withdraw, re-price mortgage 
products. From a mortgage broker's viewpoint, keeping abreast of 
these changes is becoming more difficult and is added inconvenience, 
which they could do without.



Growth in construction workloads has fallen to the lowest level for 
more than a decade. The worst hit sector is private housing, with 
workload growth in this sector turning negative for the first time 
since 1999. Private residential workloads are continuing to shrink, 
as home builders react to changing conditions. Many of them have 
begun to reduce the number of new developments under construction, 
emphasising the depth of the slow-down.
 


However, developers are reaching-out to prospective purchasers by 
offering tailor-made incentives and deals to assist them onto the 
property ladder, and preventing them from ending up out of pocket. 
Falling house prices is leading to a healthy buyer's market
throughout the UK. The good news for first-time buyers is that owning 
your home is still within reach, following the £300 million injection 
given by the Government.



Myfirsthomeltd team hope you will enjoy making your way through our 
new look newsletter as much as we do, thus contributing to making 
home hunting easier, enjoyable and rewarding. We welcome any feedback 
from our readers and clients. 


Please send your thoughts to: info@myfirsthomeltd.com

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First Home Is Now Within Your Finger-Tips

For the first-time in several years a slow down of the Housing market, has resulted in house builders and developers having large numbers of homes waiting to be sold. To ease their slow moving stocks, they have begun offering buyers incentives and reduced selling prices considerably.

It has been well publicised, that many first-time buyers are struggling to get on the property ladder in the United Kingdom. With the commencement of the ‘home buying season,’ myfirsthomeltd.co.uk is launching ‘Service At Your Finger-Tips’ with the objective to further assist first-time prospective purchasers, onto the property ladder.

This service is designed to bring house hunters into direct contact with professionals within the industry.

We all lead such busy lives nowadays and it’s not surprising that we sometimes struggle to fit everything in. Home hunters finding their dream home is no exception. So whether you’re a first-time buyer too busy with work to look for your first home, an investor looking to expand your portfolio, or busy parents desperate for some more space, but struggling to find time to look between baby-sitting and raising your children.

First-time buyers registering with www.myfirsthomeltd.co.uk will have free access to our newsletters, magazines and information centre. Designed to make house hunting easier, enjoyable and rewarding, giving prospective purchasers:-

Updates on market news and consumer trends.
Alerts on forthcoming developments.
Information on new homes and developments.
Promotions and events…

Technology is transforming the way we search for our next home. Gone are the days when people’s property searches begin with the nose pressed against an estate agent’s

Window and hours spent browsing through publications and driving through neighbourhoods. For many first-time buyers, the starting point is instead the internet.

For a new experience visit: www.myfirsthomeltd.co.uk and register immediately via the following link: Service AT Your Finger-Tips

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