Steady Fall in House Prices Leads to Increased Interest in Self-Building
SOUTHAMPTON, England, November 1, 2012 /PRNewswire/ --
The UK housing market has not enjoyed the most positive fortunes over the summer - a fact that has been highlighted by the release of figures suggesting that house prices dropped for the third month in a row in September.
Naturally, different regions have experienced different fortunes over this three month period - for instance, London properties, according to analytics firm Hometrack, took an average of less than six weeks to attract a buyer, while properties up for sale in the rest of the UK took an average of nearly ten weeks.
Of course, industry insiders and members of the public with a keen eye on the fortunes of the property market have become aware of how little figures for the centre of London actually reflect the situation in the UK as a whole. Property prices in the capital have continued to rise even during the most difficult periods for the rest of the country.
What the continued fall in house prices tend to point to is a serious lack of confidence in the market from the buyer, who may also be influenced by a mortgage market that is not showing great signs of health either. For some, this means seeking out a new way of doing things.
Timber frame house builder Southern Timber Frame has seen an increase in inquiries recently from homeowners with designs upon self-building at some point in the future. Many homeowners who are keen to move and have no confidence in the mortgage market or in the mechanics of the property market are seeking to take matters into their own hands.
Those visiting the website are often in search of advice and project management when they are thinking of sidestepping the ill-fortune of the property market by building timber frame houses to meet their own specific needs and the needs of their families.
The fact that many homebuilders are struggling to get the go-ahead on new projects to deliver more housing in popular residential areas is also driving the interest in self-building. Building with timber frame technology is something many self-builders are attracted to because of the environmental agenda behind the method.
The new figures on house prices don't make great reading for those hoping to see an injection of life into the market and it remains to be seen what other measures the government, along with mortgage lenders and homebuilders, may come up with in the future as a means of inspiring greater activity and growth in a market whose slump continues.
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SOURCE Southern Timber Frame Ltd