http://mm4law.co.uk/news_rss.asp Content Manager http://mm4law.co.uk/news.asp#n1 http://mm4law.co.uk/news.asp#n1 Weather Reflects Sombre Mood of Property market. The numbers of property transactions throughout the UK remained at relatively low levels in May and lower than May last year according to reports. With the onset of the summer holidays and lenders saying that new mortgage approvals remain flat it would appear that there is little chance of a rebound in the market any time soon. This makes it a good time to buy says Stephen Matthew of Matthew and Matthew Solicitors. With fewer buyers around those that are looking to buy may well be able to secure a deal which is well below the asking price. This would mean that a higher percentage yield could be achieved by way of a return on your investment should you be looking to enter the Buy to Let market, believes Stephen. It’s been widely reported that rents for residential properties are increasing rapidly leading to better returns. With so few first time buyers able to buy there are many looking to rent instead and this extra demand can only serve to push up rents in the near and medium term. The subdued nature of the housing market has had some impact on house prices with all the key indices showing recent declines in average prices of between 0.3% and 4.2% over the past year with the value of the average home now standing at £160519 according to the Nationwide Building Society. Not a major impact but a reduction nevertheless. This downward pressure on prices make it an even better time to buy comments Stephen. Stephen Matthew is Senior Residential Property Director at Matthew and Matthew Solicitors. With over 30 years of legal experience Stephen is able to look after all your property needs. Visit www.mm4law.co.uk for his contact details Tue, 12 Jul 2011 00:00:00 GMT