As well as the chance to discuss exciting new opportunities with Gateway Homes, the show will feature more than 70 seminars from industry experts and entrepreneurs, who will be on hand to talk about why franchising has seen so much success in the UK. These include accountant Mandy Bagot, who will host a talk on what women can get out of franchising, while entrepreneur Nigel Botterill will discuss the questions potential franchisees should put to businesses.

The Franchise Show 2012 will also run a series of one-to-one workshops on topics like business planning, reducing property lease costs and international operations. If you’re considering a new start, come to ExCeL this weekend and meet the Gateway team!

Martyn Boyle, a franchisee and our regional manager in Peterborough, said: “Gateway Homes are a company that constantly looks forward, investing the time and resources required to ensure that the business can evolve and continue to be a market-leading player.”

The 41 new territories available span the length of the country, from York, Harrogate and Scarborough to Taunton in Somerset. Anybody searching for a new opportunity with a dynamic, growing property firm is urged to get in touch – but places are first-come first-served, so act quickly if you don’t want to be disappointed!

The survey also revealed that many existing homeowners are being forced to give up homes they can no longer afford, and that the average age of the first time buyer, which stood at 25 in the 1980s, has now risen to 37.

Help could be on the way for aspiring homeowners, however, after housing minister Grant Shapps announced plans this month to build 80,000 new homes on government-owned land, as well as launching the NewBuy Guarantee scheme for buyers with a smaller deposit.

According to his architect, the flamboyant artist has a “horror of building anonymous, lifeless buildings” and aims to create “the kind of home he would want to live in”. A planning application will be submitted this summer and construction on the homes could begin as early as 2013.

Recently, Property Wire reported that research by Smart New Homes suggests that four in five property buyers now seek out energy efficient features in a new home, with three-quarters of these saying they want to reduce the cost of their energy bills. This trend is likely to continue as government legislation will force all housebuilders to construct zero carbon homes after 2016.

Companies also need to think about whether the surroundings of a property are suitable for residential use – for instance, some locations may be closer to shops and bars, but this means they will be noisier at night and may not be located close to other essential facilities such as schools.

“Commercial property owners are facing high business rates for buildings that no-one occupies,” said Peter Bolton King, chief executive of the NAEA. “Therefore, in the right circumstances, converting these buildings for residential use could have an aesthetic and economic benefit. However, such renovations are not simple undertakings.”

The advert sets out all the main points of Gateway Homes in a 30-second slot. It also raises awareness of the fact that we take care of all solicitors’ and survey fees for our customers, and provides a Freephone number to allow people to find out more.

We hope our ongoing TV campaign will bring the benefits of selling your property to Gateway Homes to more people than ever before, and generate more leads for our nationwide network of franchisees.

Glen has more than 30 years of experience providing IT consultancy services to Fortune 500 companies, and has also worked in the property market since 2004 helping expatriates to buy and sell property in Spain. Peter, Gateway’s other new Gloucestershire franchisee, also has a background in IT and property investment, and together they will use their local expertise to cover the urban centres of Gloucester, Cheltenham, Tewkesbury, Stroud, Cirencester, Dursley and the Forest of Dean.

“As Gloucestershire’s most forward thinking and innovative property consultancy I can offer a range of services that traditional high street property companies don’t or can’t offer,” said Peter. “Working with such a great company as Gateway Homes is a natural extension of what I already do and ensures I can offer the best service to you.”

Joe’s track record of success in the field, which includes sourcing and selling more than £8 million of buy-to-let properties, makes him ideally placed for his role at Gateway Homes, which recently moved up to a bigger office in Leeds. We intend to keep on building our team throughout this year and beyond to meet our ambitious expansion plans.

“I am really excited to move to Gateway and using my extensive property knowledge to progress my career to the next level,” said Joe. “Gateway is a fast growing dynamic company, and it is inspiring to join such a professional, positive team.”

The new 14,000 sq ft of space – considerably more than the 1,600 sq ft we currently occupy – will provide us with all the room we need to meet our ambitious expansion plans. Turnover, staff numbers and profitability have all increased in over the last year, and with our first franchise soon to celebrate its two-year anniversary, we feel this is a great time to underline our achievements by trading up to a much larger headquarters.

Gateway will be moving into the new premises in April/May 2012, putting us in a great position to start the financial year with a bang. We have many more exciting things planned for this year – watch this space!

Charges for stakeholder pensions are capped at 1.5 per cent for the first ten years and one per cent after that, but by negotiating a long-term 0.3 per cent rate, savers could improve their retirement income by 17 per cent, according to the research. The report also revealed that around one-third of people do not shop around for the best annuity.

“People who don’t get the best out of their pension could end up stuck at work for years longer than they planned,” said Joanne Segars, chief executive of NAPF. “Getting a good deal on charges and annuities can mean the difference between enjoying retirement and spending years more at the desk.”

Glasgow is the most-discounted city with average price reductions of 9.2 per cent, followed by Blackpool at nine per cent. Meanwhile, Stockport, Chesterfield and Rotherham have the highest proportion of discounted homes for sale.

“The current average discount of £19,580 is a new high indicating that sellers have come to terms with the market realities,” said Nicholas Leeming, business development director of Zoopla.co.uk. “Pricing correctly remains key when selling a home and whilst there is a shortage of sale stock currently, buyers are more discerning and more informed than ever before.”

The price comparison website advised homeowners to invest in a good home security system, including a burglar alarm and timer lights, which may also enable them to get a discount on their home insurance policies.

“No matter where you live there will always be an element of risk to the safety of your possessions, so it is vital to have adequate home insurance in place,” said Julie Fisher, head of home insurance at moneysupermarket.com. “Properties classified as being in a ‘high-risk’ area – whether that be for crime, or something like flooding or subsidence – could see the price of cover affected.”

Meanwhile, the cost of renting is expected to continue heading upwards in 2012, as just three per cent believe rents will fall. “The modest improvement in consumer confidence in the outlook for house prices reflects the resilience of the UK housing market over recent months in the face of a weak economic recovery and the deterioration in the outlook for both the UK and global economies,” said Martin Ellis, housing economist at Halifax.

Homeowners can avoid becoming a victim of this crime by registering their property – this way, if they are subject to fraud they will be compensated, and registration is now free if the owner does not live in the property. If they feel their home is at risk, they can enter a restriction  that requires a solicitor or conveyancer to certify that anybody trying to sell the property is the genuine owner.

“We have introduced a range of additional safeguards in the last four years and we also work closely with other organisations to do all we can to tackle fraud and identify and take corrective action when it has happened. But home owners must also be vigilant and play their own part in protecting their properties against fraud,” said Malcolm Dawson, chief land registrar at the Land Registry.

While buyers usually need a £40,000 deposit before getting a mortgage for a new build, the scheme will make it possible with just £10,000. Mr Shapps also said power will be devolved from Whitehall to Town Halls in a bid to end the long-running “tax on tenants”. The £19 billion deal will allow councils to keep the rents they collect and put the money back into the houses they manage.

“The pattern of the past has been to produce endless policies and initiatives that simply gather dust on Whitehall shelves and lead to inaction and inertia,” said the minister. “But with the Prime Minister putting housing centre stage on the road to economic recovery, I am determined that we shall not repeat these mistakes of the past.”

Meanwhile, Inverclyde saw the steepest fall in house prices at a 12 per cent drop on the year before, and West Dunbartonshire recorded the highest percentage rise at six per cent. There was also considerably more activity in East and West Dunbartonshire, with a 28 per cent rise in the number of property transactions in both regions.

“The strength of sales in the house market is having a levelling effect on the market as a whole and this is keeping the changes to Scotland’s property averages at under one per cent,” said Kenny Crawford of Registers of Scotland. According to research by the Bank of Scotland, buying a three-bedroom home in Scotland is now six per cent cheaper than renting.

Currently, flood-prone homes can be insured because of a subsidy agreement between the government and the insurance industry, but this is due to come to an end in July 2013. “Some insurers are telling us that flood-prone homeowners might not be able to renew their cover later this year, because their new policy will extend beyond 1 July 2013: with all the implications for property value and mortgage availability that this implies,” said Mr Douglas.

People who find themselves unable to insure their homes may be able to arrange a quick home sale with a property buying firm to get themselves out of their predicament, allowing them to gain access to the money tied up in their property and relocate to a lower-risk area.

“The latest Hometrack survey reveals a market dogged by uncertainty,” said Hometrack director of research Richard Donnell. “On a national basis house prices have not increased over the last 18 months – a theme carried over into January when prices were unchanged.”

However, there was some light at the end of the tunnel for people living in London, which was the only region in the country where prices increased month-on-month, and the market is expected to get a further boost later in the year as overseas buyers take an interest in the capital thanks to the 2012 Olympic Games.

The proportion of potential home buyers was highest in London by a long way, followed by the north-east, East Midlands and Scotland. Meanwhile, people in the East of England and Northern Ireland were the least confident about their ability to successfully purchase a home.

“Given the tough economic climate people are becoming more upbeat about their prospects of purchasing a new home this year,” said Phil Cliff, director of Santander Mortgages. “It’s been a tough few years for the property market overall, but prices have made a steady recovery so there’s every reason to feel cautiously optimistic.”

One-third of first-time buyers were aged under 25 and just under a third were between 26 and 30. Meanwhile, more than one in ten property buyers making their first investment were over 41, indicating that many people are still struggling to take the step to home ownership.

“We remain committed to supporting first time buyers and have a range of competitive products to help them throughout the process,” said Steve Reid, retail director for Clydesdale Bank. He added: “We are proud that we are helping buyers of all ages to buy their dream home and take their first step on the property ladder.”

Wendy Evans Scott, president of the National Association of Estate Agents, said anybody who is currently in a chain and waiting to complete their purchase should make sure that others in the chain are aware of the tax holiday as well, which could help to get things moving faster.

“First time buyers are key to a healthy property market. We hope to see the number of people completing the purchase of their first home continuing to increase through February and March, as many FTBs are keen to purchase their first home before the tax exemption deadline,” she added.

“Although prices were pretty much flat in 2011, they’ve shown tremendous resilience given the bleak economic backdrop,” Richard Sexton, director of e.surv, told Property Wire. “The upshot of flat prices is that high inflation is slowly making property more affordable.”

However, conditions will still be difficult for property buyers taking their first steps onto the ladder, who still need to build up large deposits before they can secure a mortgage. The economic downturn in Europe will also drive down the amount banks are willing to lend to riskier customers, making the situation even tougher.

“First time buyers will still enjoy a stamp duty holiday until April, but after that their numbers could decline sharply,” added Mr Sexton.

The document also examined the declining options on the property ladder for people in this situation, who account for 5.8 million households in the UK. Home ownership is a distant dream for many people because of rising prices and bigger deposits needed for mortgages, while wages have remained flat.

“With limited mortgage availability for first-time buyers, historically high house prices and stagnant wages, many in this group are finding themselves stuck in private rented accommodation,” said the report. Job insecurity and low pay are also a contributing factor, particularly in the south-east and north-west of the country.

“It is pleasing to see that prospective house-hunters remained determined to continue their search for a home, despite the slowdown we normally expect to see at this busy time of the year,” said NAEA president Wendy Evans-Scott. However, she added that the extra interest has not yet converted into higher sales, and the number of homes on the market per branch actually decreased during the month.

First-time buyers did see some improvement, with a higher percentage of sales made to this group in December compared with the previous month, although it was down on December 2010.

“The Hybrid is therefore the perfect product for those borrowers who want to take advantage of low variable rates now, while securing a fixed rate element at today’s historic low prices,” he said. Mr Collins also called for more lenders to make Hybrids available to stimulate the first-time buyer section of the market.

Meanwhile, 55 per cent of people with John Charcol went for a tracker mortgage and 34 per cent opted for a fixed rate in December.

According to the index, the average house price stood at £220,385 at the end of 2011, a monthly rise of just 0.2 per cent. David Newnes, director of LSL Prperty Services, said although transactions fell over the year, the last five months of 2011 actually saw higher activity as buyers rushed to take advantage of the affordable mortgage finance coming onto the market.

However, he warned that 2012 will not necessarily be an easy year for property buyers: “With the global economy in a parlous state, the size of mortgage advances, which rose in the last 12 months by 3.5%, could begin to decline. The stamp duty holiday for first-time buyers will end in April which means first-time buyers will have to stump up an extra £2,200.”

The nine-bed mansion is currently hired out for weddings and anniversaries, and even comes with its own butler, maid and serving staff. Property buyers with a few million to spare will also find the stately home has been renovated recently, which owner Amazing Retreats says is the justification for the price increase.

A local estate agent told the newspaper: “A programme as popular as Downton Abbey is bound to have an effect on the interest in these sorts of properties. Even at the higher end of the market, trends and fashion count.”

People looking for a quick home sale should be pleased to learn that January has seen record levels of search activity, with 44 million property searches in the first ten days of 2012 alone – more than a quarter higher than last year. However, estate agents are now marketing less than one new property each week per branch, the lowest figure ever seen.

Rightmove said the beginning of 2012 looks rosy for deposit-assisted first-time buyers, buy-to-let investors and next-steppers who have a lot of equity in their homes. Conditions appear to be tougher for those currently renting who would like to buy their first property and home sellers who are unwilling or unable to cut their prices.

That’s because the Knight Frank Global House Price Index, which tracks the performance of world housing markets, discovered that Ireland has suffered house cost drops of over 14 per cent, while Spain and Cyprus have dropped 5.5 per cent and 6.6 per cent respectively. However, those planning a move to France or Turkey have been told that property values have risen over six per cent annually.

Knight Frank blamed the tumultuous time for property buyers in certain countries on the global economic hurdles that came throughout the year, particularly in the Eurozone. However, this has not stopped certain areas of the world; many have been sheltered from the brunt of financial fall-outs in the west.

Among these were Hong Kong (up 19.3 per cent), India (13.9 per cent), Taiwan (12.7 per cent) and China (8.9 per cent). Naturally, many of the top performers aside from the market leader have relatively low bases to work from, while others may suffer their own collapse after a long period of inflation as that seen in the UK prior to the recession.

According to a study by Lloyds TSB this week, over one-fifth of homeowners (21 per cent) have decided to take the hammer to their home in the past ten years, while many others simply decided to undergo a quick home sale in order to move to this type of home. A further fifth have decided to do the same.

The study of 2,000 people went on to claim that a quarter of today’s homes have a room especially reserved for utilities, compared to only one in ten houses that property buyers grew up in. Another one in 50 even had a gym.

Yet while a number of rooms are being lost, a raft of new ones have made their way into homes and are establishing themselves as go-to ideas for those designing their home. One of these is the kitchen-dining room, which became 50 per cent more popular in just a generation – three in ten homes now have one.

Simon Hamilton, the international director at the British Institute of Interior Design, said: “With our increasingly hectic lifestyles convenience and sociability have become key, which is why kitchen-diners and games rooms have grown in popularity. In the next ten years, the majority of houses will be designed in this style.”

These cash-rich landlords have been poaching properties that banks have been unable to lend for, as potential homeowners fall off the radar due to this lack of financial aid. This, combined with the lowest level of housing output since 1923, has aided increased rental demand.

Yolande Barnes, head of research at Savills, said: “The expansion of the private rented sector is the single most important issue in the UK property market at the moment.

“But, if you look at the investment logic for people getting into it, it tells you a lot about how the market has changed in the past five years. Buy-to-let used to be a pure play on capital growth, but now you are basically buying rental income with a pretty good guarantee that it will grow.”

In the report, it was revealed that renewed interest from property buyers helped prices to rise by an average of 0.8 per cent from just one month earlier – quite the surprise for a traditionally quiet month on the housing market. Prices now linger at around seven per cent higher than the previous peak in March 2008.

It meant that luxury-home values rose by an impressive 12.1 per cent in the year through to December, effectively bringing about the smallest 12-month gain in three months. On top of this, prices for homes in central London have truly boomed since the market low of March 2009, growing by an amazing 40 per cent.

Liam Bailey, head of residential research, said: “Demand for prime London property in 2011, despite uncertainty resulting from the eurozone debt crisis and ongoing global economic uncertainty, outpaced supply and led to strong price performance.”

Meanwhile, Halifax revealed that house prices in the UK on an overall level fell by 0.9 per cent in December to a 30-month low, highlighting how people are not selling their home as fast as they may have hoped to. Many market commentators have gone on to claim that it is now a renter’s market, as people struggle to agree private sales to potential buyers.

Research released today (January 9th) by Barclays highlighted how many property buyers may have looked to sell their home fast and get on a more reasonable fixed-rate or variable mortgage. After all, many people paid out 15.4 per cent of their take-home pay of the last 12 months to cover monthly mortgage payments, falling from a high point of 20.5 per cent of 2008.

Opinion research went on to claim that the majority of homeowners are more comfortable with current payment levels than they were last year. Furthermore, 83 per cent “have room for manoeuvre” should interest rates or other financial circumstances change. Most homeowners explained to Barclays that they have a plan in place for when interest rates rise, reducing lifestyle budgets to cover any fluctuations in the market.

Andy Gray, head of mortgages at Barclays, said of the news: “Barclays is urging homeowners not to be complacent with this affordability and to act early on in 2012 to secure good mortgage deals, as they may be able to cut their monthly mortgage payments further.”

This was compared with Greater London, which had the lowest rate of bankruptcies during the year at 11 people per 10,000. Dorset saw the fastest growth in its bankruptcy rate over the past ten years.

Delroy Corinaldi, external affairs director at the CCCS, said the high rate of insolvencies in the West Country is likely to be a result of high debt levels and fewer job opportunities in the region. “Another issue could be that people are waiting longer to seek debt help and are deeper into their debt problem when they do,” he added.

“City traders have tended to put their bonuses into property, either as an investment or via residential,” said Shehan Mohamed, a housing economist at the CEBR. “There is now a dual effect. Bonuses are falling and jobs are going. Obviously job losses are more powerful as they put people in an untenable situation.”

Meanwhile, estate agent Savills said London areas that are traditionally associated with City workers like Clapham, Richmond and Wimbledon saw lower levels of growth in the second half of 2011 as job uncertainties began to bite.

“The fall in housing equity withdrawal since the financial crisis is likely to reflect a fall in the number of housing transactions, with little sign that households in aggregate are making an active effort to pay down debt more quickly than in the past,” said the Bank in a statement.

Recently, estate agent Knight Frank predicted a five per cent fall in average UK house prices over 2012, due to the subdued economic recovery and tighter mortgage availability.

Robert Gardner, Nationwide’s chief economist, said in spite of the modest price growth seen over the course of the year in the UK overall, the figures are “surprisingly resilient” against the backdrop of weak economic growth. “Resilience was less evident in other areas of housing market activity in 2011,” he added. “For example, the number of mortgage approvals remained low, at just over half the long-term average.”

Just before Christmas, the Nationwide Consumer Confidence Index showed a small improvement in people’s hopes for the UK’s economic future, particularly regarding employment and household income.

“Low mortgage rates, along with the stamp duty holiday on properties below £250,000 and the modest boost provided by the government’s FirstBuy scheme, have all contributed to prevent larger falls in 2011,” he added. Meanwhile, Council of Mortgage Lenders figures show that lending increased by 9.8 per cent in the year to October, contributing to a rise in transactions in November, although the size of the deposits that lenders require has not decreased in any significant way.

However, the north-south divide shows no signs of abating, after a report from mortgage provider ING Direct revealed that the added value of a parking space in the Kensington and Chelsea area of London stands at £95,800 – more expensive than the average house in Middlesbrough.

However, this is against the backdrop of a subdued property market where transactions have been lower all year than they were in 2010. Low mortgage availability and sellers’ unwillingness to drop their asking prices have contributed to the decline in sales.

A recent product analysis from Mortgage Brain showed that this situation may be easing, after revealing that the total number of available mortgage products has almost doubled in the last twelve months. As of December, there have been 14,052 mortgages available from UK banks and building societies, compared with 7,519 at the same time in 2010.

Supply levels in the prime London sector are “significantly down”, the company said, with a knock-on effect on registrations, although Cluttons said anecdotal evidence suggests real demand levels are much higher as property buyers only hurry to register when a suitable residence comes on the market.

The Cluttons London View also showed a reduction in prime Central London rental values of 0.4 per cent, the first contraction since the fourth quarter of 2009. As a result, landlords are becoming more flexible in rent negotiations to reduce void periods.

James Hyman, partner for residential sales at Cluttons, said: “The incentive to buy in Central London remains strong with homes that come to the market in Prime areas generating immediate interest and usually selling for well above listed values, as long as they are correctly priced in the first instance.”

Under the 25 per cent cuts to housing benefit that the government is considering introducing in 2013, a family that is judged to be under-occupying a three-bedroom home will lose £20.70 a week, or £1,076 a year. The NHS says this could force some households into debt or even leaving their homes.

“This will have disastrous implications for a huge numbers of people already struggling to make ends meet in the tough economic climate, including foster carers, grandparents, disabled people and smaller families,” said David Orr, chief executive of the NHF.

On December 14th, the Times published a letter from Mr Orr on the issue ahead of a crucial vote in the House of Lords. The letter urged the government to reconsider the rules and make them more flexible to accommodate families in need.

A £1 million flat bought in November 2010 will has risen in value by just under £400 per day in the last year, according to the Knight Frank figures, while those with a property worth £5 million or more will have seen their investment grow by a staggering £2,205 per day. This is in spite of the weak economic recovery and problems in the wider housing market, which do not seem to have affected properties at the top of the scale.

Liam Bailey, head of residential research at Knight Frank, said: “Our analysis of market activity in the three-month period to November, compared to the same period in 2010 … [demonstrates] that the increasingly apocalyptic news headlines are not having a significant impact on the prime London market.”

People in the North of England needed the least time to save up a 20 per cent deposit at 10.4 years, according to the research, largely thanks to house prices being lower. However, buyers in Greater London, where prices are almost three times higher, are in for a long wait at an average of 19.6 years.

Graham Mannion, managing director and founder of InvestorBee, said there is a “misalignment” between what first-time buyers want to do and what they can actually achieve with their savings.

“By understanding what people can save, particularly those putting away a lot, it should give them the confidence to save more so that they can reach their goals sooner,” he added.

The affordable properties will comprise a mix of two and three-bedroom homes and apartments, including eight homes with wheelchair access and another eight designed for elderly people. They will also be energy-efficient and constructed to the latest building specifications.

“This is great news for people in the Queensferry and Kirkliston area who are looking to make that first step on the property ladder,” Norman Work, Edinburgh City Council’s deputy housing convener, told the newspaper. “I will be seeking assurances that Home Scotland prioritise these affordable units for local people.”

Edinburgh City Council recently set out its ambitious strategy to build at least 8,500 new homes between 2012 and 2017 in an effort to meet demand from the rising population. The Scottish capital is expected to rise from 472,000 people now to around 550,900 in 2033.

There are currently more than 253,118 homes with a value of more than £1 million in the UK, four in five of which are in the capital and 56 per cent in the Kensington area of London. Virginia Water in Surrey, where 30 per cent of homes cost £1 million or more, was the only region outside the capital to appear in the top ten.

Nick Leeming of Zoopla.co.uk said the data shows how differently the higher end of the housing market is performing in comparison with the rest of it. “Whilst most of the market is suffering from the impact of inflation, stagnant wage growth, the inability to secure mortgage finance and nervousness about the future of the economy, at the upper end of the market, cash and equity rich buyers are enjoying some of the lowest mortgage rates in recent history,” he added.

Anybody facing repossession should consider using Gateway Homes to sell their house quickly rather than waiting for the bank to foreclose on their property. As well as getting a guaranteed fast sale for a lump sum, they will also benefit from a clear credit record – something they wouldn’t have if they had undergone repossession.

CML chief executive Bob Pannell said in spite of the expected rise in arrears and repossessions, there is hope for the UK  housing market as long as the wider economy improves.

“If European leaders navigate a comprehensive and sustainable way through Eurozone problems, current financial market stresses could heal – and the previous pattern of gradual improvement in cost and availability of funds re-emerge – relatively quickly,” he explained.

The website expects prices in 2012 to be underpinned by a shortage of new sellers, at 1.2 million – down by around third compared with the pre-credit crunch levels of 2007. Meanwhile, mortgage availability will continue to put a strain on transaction levels.

“The market fragmentation caused by the credit crunch means that success in selling now requires a very careful and complex local market analysis,” said Miles Shipside, director of Rightmove.

“As always it involves location, but the number of mortgage-ready buyers you can attract is now dictated by the type and size of property that you are selling.”

Renting is 31 per cent more expensive than paying a mortgage in a comparable house in London, meaning tenants pay £6,888 more every year. Meanwhile, in Milton Keynes, buying was 36 per cent more cost-effective than renting a home.

Nicholas Leeming, business development director of Zoopla.co.uk, said: “The shortage of financing, especially for first-time buyers, has pushed demand for rental property through the roof.

“But for those lucky enough to be in a position to get a mortgage, there may never be a better time to buy.”

However, data from LSL Property Services recently showed that rents fell for the first time in ten months in November, offering some reprieve for tenants.

For instance, if a family who took out a 100 per cent loan to buy a house for £100,000 saw its value drop to £90,000 over the year, they would effectively owe the bank £10,000 if they sold up. Under the new guidance, they would be able to remortgage to a new property without having to pay the outstanding balance, instead moving their negative equity to the new mortgage.

The FSA will not be able to force banks to lend, but the move is hoped to send out a message that financial institutions need to support property buyers who have been locked out of the housing market. One in 12 homeowners, or around 827,000 in the UK, are estimated to be in negative equity, according to figures from the Council of Mortgage Lenders. Most of these people put down small deposits of ten per cent or less.

The organisation has issued some advice for people in this situation, reminding first-time buyers to set aside additional money to cover fees to lenders, insurers, surveyors and other people involved in the process, as any late payment could delay the sale. They should also keep all the paperwork involved in an organised file, as well as notes about the property viewed and any repairs needed so they can budget properly.

“With many first time buyers trying to purchase their first home before the tax exemption deadline, our members will be working closely with those first time buyers who are able to purchase before March 2012 to guide them through a difficult and challenging market place,” said Peter Bolton-King, chief executive of the NAEA.

According to the Council of Mortgage Lenders, mortgages for first-time buyers are now at their cheapest in eight years, although these buyers still need to find on average a deposit of 20 per cent.

Surveyors were also quizzed on the factors they felt were holding back the housing market, with the vast majority (89 per cent) citing uncertainty in the economy, while 70 per cent said availability of mortgage finance was proving a barrier to transactions.

“It is encouraging that buyer interest has edged upwards in the face of the endless diet of negative news from Europe and the turmoil in financial markets,” said Alan Collett, spokesperson at RICS.

“However, a meaningful recovery still seems some way off.”

He went on to say that the proposed mortgage indemnity scheme is likely to provide some assistance for the market, but its focus on the new build sector means it will inevitably offer support for only a “relatively small share of the market”.

“Low mortgage rates, along with the stamp duty holiday on properties below £250,000 and the modest boost provided by the government’s FirstBuy scheme, have all contributed to prevent larger falls in 2011,” he added. Meanwhile, Council of Mortgage Lenders figures show that lending increased by 9.8 per cent in the year to October, contributing to a rise in transactions in November, although the size of the deposits that lenders require has not decreased in any significant way.

However, the north-south divide shows no signs of abating, after a report from mortgage provider ING Direct revealed that the added value of a parking space in the Kensington and Chelsea area of London stands at £95,800 – more expensive than the average house in Middlesbrough.

“Ministers need to be bolder and go much further to fix the broken housing market and they can do it in a way that is effectively cost neutral,” said David Orr, chief executive of the NHF.

“A public investment of £1bn – matched by £8bn from housing associations – would build 66,000 shared ownership homes for people on low to middle incomes.”

To do this, the government should make brownfield sites available for free to developers building affordable homes for families who have found themselves unable to get a foot on the housing ladder in their local market, according to the NHF.

Speaking about the proposed Right to Buy scheme, Mr Orr added that there must be a “cast iron guarantee” that at least one new rented home is built for each one sold under Right to Buy.

The problem was particularly acute in London, where only half of homeowners had taken steps to prevent breakdowns as temperatures drop. Last year, some three million Brits suffered some form of property damage due to freezing, with damage to roofs the most common cause of complaint.

“In addition to checking that your insurance covers the cost of emergencies, taking a few simple actions such as lagging pipes and keeping your home well maintained will go a long way to limiting the damage winter weather might cause,” said Stuart Curson, head of Direct Line home insurance.

Perhaps unsurprisingly, younger people were the least likely to take precautions, while more than three-quarters of over-55s said they had looked at ways to prevent damage to their property this winter.

“It is good that the government is in listening mode about Support for Mortgage Interest, as there is much that can be done to improve it,” said Paul Smee, director general of the CML. While the government intends to encourage claimants to take more responsibility for their mortgage payments, Mr Smee said that it is “dangerous” to pay the benefit to claimants rather than lenders, as this could potentially reduce its effectiveness.

According to the CML, SMI should be paid at the actual rate payable by the individual mortgage holder rather than a standard rate. The body is also concerned about a similar system that is being introduced to pay housing benefit direct to tenants rather than their landlords under the new Universal Credit system, as this system could be open to abuse by some claimants.

It comes as Channel 4 begins broadcasting a new series, The Great British Property Scandal, which aims to highlight the lack of affordable housing in the UK and show some of the social problems that are caused by empty properties. The campaign group Empty Homes, which acted as an advisor to the series, said more needs to be done to help the two million families in need of a home.

“The country’s housing situation is at crisis point, but there has never been a better opportunity to use empty homes to meet housing need,” said David Ireland, chief executive of Empty Homes.

“New families are forming at twice the rate that new homes are being built. The country needs homes quickly, and the best place to start is with those that already exist.”

The campaign group also called on the government to begin publishing an annual report of the state of empty homes in the public sector.

Miles Shipside, director of Rightmove, said the public seems to retain its belief in the value of bricks and mortar, even as the nation’s finances deteriorate. “This is a clear message that the majority of consumers view the property asset class to be as ‘safe as houses’ in these times of economic uncertainty,” he added.

People in London were the most positive about their home’s prospects for the future, with 29 per cent expecting prices to be higher in 12 months, while Wales had the least optimism with 35 per cent predicting lower prices in a year. The majority of those who expected price rises put their view down to feeling more confident about the economic situation.

Those in Wales may have more cause to be optimistic than they think, however, after a report by real estate firm BNP Paribas predicted that properties in the country will rise in value by six per cent by 2016.

Over the last 25 years, properties built before 1919 have been greatest in Scotland, followed by Greater London and Yorkshire and the Humber. However, since the housing downturn began in 2007, pre-1920s properties have in fact performed the least well, with prices contracting by 30 per cent, which Halifax suggests may be due to a trend among property buyers for smaller houses.

“Modern properties, built since 1960, have their own pull, which is sometimes linked to convenience; whether it is location on a commuter belt or the fact little extra work is needed,” said Martin Ellis, housing economist at Halifax. He went on to say that house built between 1945 and 1960 tend to be smaller, contributing to their smaller price rise in the last 25 years.

The total amount owed on mortgages has now fallen by £92.9 billion since the peak of the credit crunch, marking a growing trend for homeowners to increase the amount of equity they have in their properties. While this is partly driven by consumer desire to reduce the amount of debt they owe, the bank suggested it is also a result of tighter credit conditions reducing the number of first-time buyers in the market.

“Housing chains lead to large equity withdrawals, so the lower number of housing market transactions, all else equal, will have led to lower equity withdrawals,” said Kate Reinold of the Bank of England’s structural economics analysis division.

Lender First Direct recently advised Brits who can afford to overpay their mortgages to do so rather than putting their money into a savings account, as the actual financial benefits will often be greater.

“An offset mortgage offers the best of both worlds, offering easy access to your savings while still helping you to reduce the overall interest you pay,” said Richard Tolchard, senior mortgage product manager at First Direct.

Just 16 per cent of overall house sales were to the FTB sector last month, compared with 22 per cent in September, marking the biggest slump since December 2008 when FTBs accounted for just ten per cent of the market share.

Wendy Evans-Scott, president of the NAEA, said latest figures show that despite reported increases in mortgage approvals by the larger UK banks in 2011, there is still a lending barrier facing those buying a house for the first time.

“To address this government could ensure that banks are given clearer incentives to offer mortgage finance to the UK’s embattled first-time buyers, and also extend the mortgage guarantee … beyond just new build homes,” she added.

The NAEA welcomed the government’s announcement earlier this month that it plans to support FTBs with a mortgage indemnity scheme, allowing them to borrow up to 95 per cent of the value of their home – dramatically reducing the amount of deposit they will need to save.

Property buyers in the east of England saw the biggest month-on-month price rises at 0.7 per cent, while those in Wales saw values fall by three per cent overall. Meanwhile, the north-east of England experienced a massive year-on-year drop of 7.2 per cent.

However, an ongoing shortage of new properties on the market is likely to reverse this trend and send house prices soaring by 15 per cent within the next five years, the Centre for Economic and Business Research (CEBR) recently revealed.

The price of the average three-bedroom semi, which currently stands at £176,184, will climb to £202,068 by 2016 due to dwindling stock and measures by the Bank of England to make it easier for people to get a mortgage, the research body forecast.

Douglas McWilliams, chief executive of the CEBR, said: “By 2016 we are forecasting 740,000 new mortgages a year – up from an estimated 560,000 this year but only just over half the peak 2006 level.”

In its latest Monthly National Housing Survey, Hometrack forecast a total of 840,000 sales for 2011 as a whole – nearly half the volume seen in 2007. The research also noted that house prices have fallen for 16 months in a row, although they are down just 2.3 per cent on a year-on-year basis.

Meanwhile, new property listings did not grow over the last quarter of the year, falling by 0.8 per cent in October; demand for property fell by 2.2 per cent.

Richard Donnell, director of research at Hometrack, said a mixture of low turnover and realism over pricing on the part of sellers are supporting the headline housing indicators.

“While demand may have fallen for the last four months in a row there has been no significant acceleration in price falls,” he added. “This is at odds with consumer confidence which over the same period, has fallen considerably.”

However, house prices in Scotland actually saw their first quarterly rise in a year in the three months to October, the latest Lloyds TSB Scottish House Price Monitor revealed.

RICS spokesperson Michael Newey said better access to mortgage finance will be crucial in bringing new homes to the market, particularly for first-time buyers, but cautioned that focusing on new build properties will not free up chains.

He went on to say that developers are likely to be pleased about the Get Britain Building Investment Fund, although steps need to be taken to ensure public land is freed up in the right places.

“RICS looks forward to continuing engagement with the government and the sector to deliver a sustainable housing market that delivers aspirations across all sections of the market,” said Mr Newey.

Earlier this month, RICS launched a consultation to ask find out its members’ views on how the housing market can be improved, with levels of home ownership falling and demand on social and affordable housing increasing all the time.

The feedback the organisation receives will be used to create a Plan for Action, which will be presented to the government in early 2012.

“A fresh approach is needed to meet this challenge and to deliver a housing market that operates in everyone’s interest at every stage of the process,” said RICS residential director David Dalby.

David Miles, of the Bank of England’s Monetary Policy Committee, said the average age at which people buy their first home is likely to rise as high as the mid-forties in the years to come, as banks are still unwilling to offer large mortgages.

“It will take time for first-time buyers to accumulate larger deposits, so they will typically buy later and the share of home ownership will be lower,” he said.

Meanwhile, the percentage of people who own their own homes instead of renting is likely to fall to just over half, according to the expert.

The comments come as David Cameron this week unveiled a list of reforms designed to “unblock” the housing market, including the provision of money to developers to make new homes and incentives for those who want to buy their own council houses.

Zoopla says the average asking price reduction has reached its highest level in two years at £19,500, and two in every five UK properties on the market have been discounted to encourage a sale.

In London, traditionally a resilient area of the country, nearly one-third of properties were reduced in price, although Sunderland, Stockport and Wigan were identified as the towns with the greatest proportion of asking price reductions.

“With the current economic uncertainty and difficulty buyers face in finding funding, it is no wonder that sellers are having to reduce prices in order to encourage sales,” said Nicholas Leeming of Zoopla.

Meanwhile, a house price survey by the Halifax has revealed that house prices in Northern Ireland have fallen back to levels last seen in 2004, with the average asking price standing at £109,612 in the third quarter of the year.

The guide recommends planning out your packing well in advance, as well as giving your home a thorough clear-out. This not only ensures you are only taking what you need, but gives you a chance to consider whether all your furniture will fit in the new property.

If you’re downsizing your home, you may be surprised at how much you can get out of the space available if you plan where everything is going to go. The previous owners may have been using a bedroom for storage or a study.

Checking with the agent ahead of time will also allow you to get the details of the previous utility providers so that you can set up gas and electricity as soon as possible.

Finally, it is always a good idea to get the latest information from an estate agent, who may be able to advise on the local area and the best removals firms to use.

David Cameron said that young people were struggling to own their home, as others have found themselves having to sell their home fast due to problems with funding. Meanwhile, many others are finding it too hard to get hold of a loan because banks are asking for 20 per cent from first-time buyers.

Housing minister Grant Shapps spoke to BBC Breakfast this morning. He said: “The problem that we have is that lenders aren’t lending, builders aren’t building and people can’t get their deposits together to buy so we’ve got a triple problem in the housing market.

“What we want to do is make it easier for first-time buyers… who say the biggest problem we have is the amount of deposit that we have to get together – that is their biggest blockage.”

The Confederation of British Industry (CBI) released a report entitled Unfreezing the Housing Market, where it said that boosting housing activity could be a “major game-changer for growth and economic recovery”.

The CBI demanded that the government rises to the challenge of helping property buyers with quick and effective measures in the short-term, as well as the addressing of structural failures to ensure long-term stability.

Among the short-term recommendations is the introduction of a Mortgage Indemnity Guarantee (MIG) insurance scheme, which will allow first-time buyers to take out low-deposit mortgages and use pension pots as a means of paying for their home, effectively lowering the chances of them having to sell their house fast.

Meanwhile, longer-term options include the reduction in regulations on house builders, providing a planning system that promotes growth. The CBI also asked for a review of stamp duty.

CBI director-general John Cridland said: “We have to do more to give our young people hope in the future and support their aspirations to be home-owners. While we would not want to see a return to overly-risky lending practices and unsustainable personal debt levels, it is important that we get credit flowing to those who need it most.”

Savings were the biggest financial concern for individuals across the UK, as two in every five Brits said this was the focus of their worries. Meanwhile, pensions accounted for the main concern of 29 per cent of individuals across the country, while long-term care bothered a further 16 per cent.

The property market continued to be the focus of a lot of tension among people in the UK, as mortgage arrangements worried 22 per cent of 18 to 34-year-olds and highlighted the possibility of many feeling the need to sell their home fast.

Karen Barrett, chief executive at unbiased.co.uk, comments: “Given the economic climate over the last few years, financial planning should be at the forefront of everyone’s minds. Careful planning could make a real difference to both your current financial situation and also securing your future.

“Mortgages, pensions and savings for children are just a few of the pressures and considerations facing consumers right now and therefore imperative for people to get as much information and help as possible to get on track.”

Citizens Advice chairman John Gladwin addressed attendees at the event, asking more MPs to pledge: “I will do all I can to ensure that the Citizens Advice service has the funding it needs to continue providing vital and high quality advice and advocacy in my local community and across the country.”

Citizens Advice Bureau offices across the country help over two million people with as many as seven million problems, whether they need to sell their house fast or find a way to tackle debts. They also provide support to individuals with nowhere else to turn, working from over 3,500 community bases in the UK.

However, funding cuts currently threaten Citizens Advice. Stephen Lloyd MP said: “More people need advice than ever before and at the same time national government and local authorities are having to make tough decisions about public spending that pose a real threat to the Citizens Advice service. I know we all can agree that a really strong Citizens Advice service is absolutely vital for all of our communities.”

The banking group claimed that first-time buyers who bought a house in 2007 with a ten per cent deposit would have had £16,000 in equity; however, a lot of this will have been taken away from them with an average £11,000 fall in property value. Assuming they made capital repayments on the mortgage over the last four years, first-time buyers would have paid £11,000 off their loan, meaning they still have £16,000 equity in their property – nearly the exact same amount as when they started their investment.

However, to move up the ladder and buy the average home now, second-time buyers must raise £27,000 to cover the cost of selling their house fast, raising a ten per cent deposit and stamp duty.

Head of mortgages at HSBC Pete Dockar recommended: “Making overpayments on the mortgage is one way that these movers can help build up their finances to take the next step up the property ladder. This increases the equity in their first home, and bolsters the deposit available to them for their onward move.”

The TUC reveals that the number of young people between the ages of 18 and 24 unable to find work had increased in 196 of 202 local authorities since September of last year. The organisation asserted that this underlines an unworkable approach to youth joblessness.

There were just six UK local authorities where youth unemployment stalled; Hillingdon, Kensington and Chelsea, Richmond upon Thames, Kingston upon Thames, Reading and Warwickshire – the last being the only one not in the south-east. As such, many youngsters are unable to stave off the need to sell their home fast or cancel other long-standing debts.

TUC general secretary Brendan Barber said: “We’re facing the biggest youth unemployment crisis in a generation with close to one million of our young people unable to find work. With the economic outlook the gloomiest it’s been since the end of the recession the bleak prospects facing young jobseekers look set to be with us for some considerable time to come, unless the government changes course now and brings in immediate measures to support jobs and growth”

More than two in every five (43 per cent) say they’ve prioritised children, while a third opted to become property buyers. Meanwhile, as a sign of the times, marriage was rated as the lowest priority for couples choosing to do their first thing; just over one in five (22 per cent) decided on this option.

A lack of consistency in the market has reflected on the number of people getting married full stop, too; eight per cent of respondents say a lack of money has put them off marriage permanently. This is backed up by government figures, which have showed that the number of marriages in the UK is at an all-time low – just 266,950 marriages were registered last year, compared to 313,551 five years previously.

Matt Owen, spokesperson for Churchill Home Insurance, said: “Financial uncertainty has meant a lot of people have had to make difficult decisions about their priorities in their home lives. It appears that having a big wedding is a now seen as a ‘nice to have’, but starting their own family is what’s really important for many couples.”

According to the survey by independent financial research company, 36 per cent of people continue to seek professional advice to help find financial products. However, the fact remains that 49 per cent of respondents do not understand product features, underlining just how necessary it can be to make appropriate financial decisions.

Defaqto‘s survey spoke to 2,500 consumers involved in decision-making. It discovered that the number of people using professional advice increased by 11 per cent over the last year. While the report found that 94 per cent of people compare features when buying financial products, nearly half did not realise the risks involved with inappropriate investments.

Andy Leggett, Defaqto’s insight analyst for wealth management, said: “This highlights the importance of independent advice and information to support people in making the right decisions for their financial futures. We are delighted to be working with the Institute of Financial Planning (IFP) – as a sponsor of Financial Planning Week 2011 – to highlight the importance of financial planning to consumers.”

Surveyors associated with the organisation went on to add that uncertainty in Europe was affecting property buyers in the UK, restricting mortgage availability and impacting on the market.

Prices continue to remain in negative territory, dipping slightly in October with 24 per cent of surveyors reporting prices falling instead of rising. Meanwhile, over half of all respondents said that prices had stabilised for those looking for a quick home sale; of those reporting a decline, almost three-quarters suggested the fall was between zero and two per cent.

“Regionally, London continues to be the only region recording rising prices at the present time; it is also the only area where the price expectations net balance is positive,” RICS stated. “By way of contrast, new buyer enquiries and sales expectations appear to be edging upwards across rather more of the country, with demand for property strongest in the south-east and the north-west.”

During October, it became easier for people to achieve a quick home sale, RICS revealed; eight per cent more chartered surveyors reported that newly agreed sales rose rather than fell, highlighting a major rebound in activity after the dip of three per cent in the previous month.

“Although still at historically low levels, this rise represents the best reading since April 2010,” RICS continued. “Some surveyors attributed this increase to growing realism from many sellers, who appear to be more willing to take offers in order to secure a sale.”

Completed sales rose to 15 per surveyor over the last three months, representing the strongest level since April. Respondents, however, noted that if buyers are trying to get hold of finance, banks are still taking plenty of time to agree lending terms.

RICS housing spokesperson Ian Perry said: “It is encouraging that activity levels appear to have edged upwards over the past month. Indeed, chartered surveyors are generally upbeat about the near term prospects for transactions.”

uSwitch.com explained that the average household now has an energy bill of £1,293 a year, meaning that the number of people facing fuel poverty has risen to 6.9 million. Forcing many to consider action as drastic as selling their home fast to deal with mounting pressures, this price rise misery could get worse if another cold winter is to follow. The comparison service explained that a whopping 89 per cent of homes will be rationing their energy use over this period.

Director of consumer policy at uSwitch.com Ann Robinson said: “We must all start thinking about and managing our energy usage and there are two key steps to this – use less energy by making your home more energy efficient and pay less for the energy you do use. By improving energy efficiency and ensuring they are on the most competitive plan for them, hopefully households can keep their winter fuel bills manageable without resorting to drastic and potentially dangerous measures.”

In the latest Halifax house price index published today (October 6th), statistics for the third quarter of 2011 show a slight rise in residential property prices – the first since the start of 2010. However, on a monthly basis UK house prices fell by 0.5 per cent in September.

The unpredictable activity of the UK property market as it stands may provide a challenge to people looking to sell their house fast who may instead opt for a quick property sale with a professional property buyer.

Martin Ellis, Halifax housing economist, said: “This mixed pattern is consistent with a market where prices are lacking genuine direction.

“Greater uncertainty about economic and personal financial circumstances, together with pressure on householders’ finances from weak earnings growth, higher inflation and increases in taxes, are likely to be constraining housing demand,” he added.

In a report by Bank of Scotland published yesterday (October 4^th),  it is revealed that property prices in rural areas of Scotland were found to have risen by an average of £79,819 from £79,104 in 2001 to £158,923 in 2011 – the equivalent of £665 per month.

Homeowners looking to make a move to the countryside – especially those attracted by the prospect of a better quality of life – will likely desire a quick property sale to ensure the process runs as seamlessly as possible.

Nitesh Patel, housing economist at Bank of Scotland, said: “This idea for a life in the country has come at a cost with house prices doubling in value over the past decade in Scotland – more than in urban areas.

“However, for first-time buyers average price has risen by even more, limiting their prospects for getting on the housing ladder,” he added.

The Halifax Rural Housing Review found that the rural premium has increased by 35 per cent over the last ten years, rising from £20,000 in 2001. On top of this, average property prices in rural areas have risen more than urban areas over the past decade; it works out as a jump of £576 per month, or a jump from £127,146 in 2001 to £196,316 in 2011.

Housing economist at Halifax Nitesh Patel explained that living in the countryside is an aspiration for a lot of property buyers in the UK, who believe that it gives them the prospect of a better quality of life.

He continued: “The side effect of rising property values is that housing affordability has become an increasing concern in many rural areas, particularly in the south where in all areas those on average incomes will find it difficult to enter the market. This, in turn, is having an adverse impact on the numbers of first-time buyers in these areas.”

Research conducted by advice website Unbiased.co.uk suggests that 35 million Brits have money worries, with 13.5 million remaining apathetic and failing to address their financial troubles.

The poll also reveals that two in five consumers are currently concerned about their savings arrangements and a third (29 per cent) are worried about their current pension provisions – or lack thereof.

Those who are worried about their personal finances may want to take action such as realising assets. They may, for example, opt to sell their home for cash to a property buyer.

At present, many consumers seem to be avoiding taking action to address their problems, with the age group who are least proactive being 35 to 54 year olds; where 41 per cent have done nothing to address their financial concerns.

Money Advice Trust has reported a 84 per cent increase in the number of people calling their National Debtline for assistance with rent arrears since the start of the UK’s economic problems in 2007.

With people finding the chance to get on the housing ladder particularly difficult in recent years, many homeowners looking to sell their home fast may also struggle to find a suitable property buyer.

Joanna Elson OBE, chief executive of the Money Advice Trust, said: “It is clear high rent costs are becoming more and more difficult for people to meet. A few years ago many people in today’s rent market would be planning on buying their first home, but now it seems they are struggling to even pay the rent.”

Statistics released by the Bank of England today (September 29th) indicate that 52,410 mortgages were approved in August, this is nearly 3,000 more than the previous month and the highest level recorded since December 2009.

The level of equity released from properties by homeowners also rose. It was up by £0.6 billion in August; this corresponds with the previous six month average increase. There was also an increase in remortgage levels with these rising from 31,279 to 34,668.

These figures suggest homeowners may be looking to realease assets invested in their homes. Individuals considering these strategies may want to consider alternative ways of raising money including selling their home for cash to a property buyer such as gateway homes.

A review of sales statistics by Halifax shows that the average price of a terraced home has risen more than any other property type over the past ten years.

Despite those living in terraced homes sharing walls with their neighbours and on occasion finding they lack privacy in their garden as a result, the cost of this type of property has risen by an average of £118 a week over the past decade – making the typical price increase between 2001 and 2011 a significant 68 per cent.

In stark contrast, flats performed the most poorly in terms of value growth, with the value of a typical flat rising by 49 per cent over the period. This is thought to be due in part to a ready supply of this type of property in some parts of the UK.

Suren Thiru, Halifax housing economist, said: “Although all property types have recorded significant price increases overall during the past decade, terraced homes have seen the biggest growth. Demand for such properties is likely to have been supported by their relatively favourable levels of affordability over the period. The rapid house price rises during much of the 2000s priced many potential home movers out of the upper end of the UK housing market.”

National debt charity Consumer Credit Counselling Service (CCCS) has reported a significant increase in the number of people sharing information about their debt problems with their partners, rather than hiding them.

This could mean they are able to take preventive measures, such as selling their home fast in order to prevent events such as repossession.

According to CCCS, the number of people who contact them and state their partner is unaware of their debt problems has declined by a figure of over 3,000 between 2008 and 2010, falling from 17,477 to 14,071.

Delroy Corinaldi, CCCS external affairs director, said: “I think part of the reason for this new trend is that people think about very differently about credit and debt than they did before the credit crunch and economic downturn. It may be that people are more aware of the difficulties that debt can cause and therefore more willing to talk about any problems they may have.”

Research by the banking group shows that while the average first-time buyer in the UK is 29, up North the figure generally drops. Indeed, in Selby in North Yorkshire the average age is 25.

Further areas where property buyers are likely to pick up a good deal include Redcar and Cleveland in the North East, Bolsover in Derbyshire and South Ribble in Lancashire – where the average first-time buyer age is 26.

It follows that average house prices have a tendency to be lower in areas with the youngest first-time buyers.

Figures show that the average house price is 15 to 40 per cent lower in over half of the ten areas with the youngest buyers.

Patel, housing economist at Halifax, said: “There are several areas in the country where the average age of first-time buyers is three to four years below the national average of 29. Most of these areas are in northern England where house prices are typically lower both in absolute terms and in relation to earnings, helping to limit the size of the deposit needed.”

According to the National Association of Estate Agents (NAEA), their members saw an increase in sales during August, which is a traditionally quiet month.

Statistics released by the group show the average agent sold eight properties per branch in August – up from seven properties in July, and also up one from 12 months ago.

In a sign of good news for those who want to sell their home fast, the number of house hunters also rose to an encouraging four year high. The average number of people registering to search for homes rose from 299 to 304 and levels of unsold stock also dropped back.

Wendy Evans-Scott, President of the NAEA said: “This Summer has seen the return of what you might call the ‘serious seller’ – those who price realistically because they have a strong imperative to sell.”

Research conducted by esure home insurance, shows that house-proud individuals are spending five hours each week on home improvement projects – amounting to nearly a year and a half over a lifetime.

A third of all respondents (32 per cent) cited TV programmes such as Grand Designs, The Home Show, Kirstie’s Homemade Home and Location, Location, Location as their decorating inspiration.

This work may add value to a home and could be of particular benefit to those who are looking to sell their home for cash. However, despite potential benefits, these projects also seem to be causing some tension with five per cent of Brits admitting they are so obsessed with keeping their residence ship-shape that they no longer invite people over – for fear that they might cause a spillage.

In a survey by the Buildings Societies Association (BSA), more than eight out of ten young people aged between 18 and 24 said they aspired to become a property buyer by the age of 30.

The quarterly BSA Property Tracker also revealed that among potential first-time buyers, 94 per cent would ideally like to have bought their own home by the age of 35.

Perhaps surprisingly given the current market, three-quarters of respondents aspired to buy a home in their twenties.

Deposit levels continue to be a barrier for those potentially looking to sell their home fast, with 69 per cent of those looking to buy a home citing this issue; this figure is up seven per cent since June.

Paul Broadhead, BSA head of mortgage policy, said: “It is encouraging to see that the aspiration to buy is still strong among young people. It’s clear, however, that consumer sentiment coupled with some perceived barriers is dampening activity in the housing market right now. Undoubtedly consumers have some fears over long term job security and unsurprisingly pressure on household budgets is also having a huge effect.”

Information published by the Intermediaries Mortgage Lenders Association (IMLA) today (September 20th) shows 34 per cent of intermediaries believe standard mortgage business levels will increase in the final quarter of the year.

In addition, over a quarter of those expecting business to increase thought it would do so by three to seven per cent, while eight per cent forecasted growth of over seven per cent.

Two thirds of intermediaries expect business levels to remain constant, with only two per cent anticipating a fall.

The buy-to-let sector is predicted to perform well, after half of intermediaries forecasting business growth in this area. This would suggest more property buyers will enter the market, which should be good news for those looking to sell their home fast.

IMLA chairman John Heron said: “This positive attitude from intermediaries is a reflection of the general improvement seen recently in the mortgage market. The pick-up is slow but market conditions are gradually improving, particularly in the buy-to-let and remortgage markets.”

Research from first direct shows the average house deposit rose almost tenfold since 1990 – from £6,973 to £65,924 in 2011.

Over the same period there has been much variation in terms of pay levels, but the bank estimates that on the whole, pay levels have only doubled in the same period. This lack of balance is continuing to make it hard for people to get the first rung on the ladder as property buyers.

Bruno Genovese, senior savings product manager at first direct, said: “Much has been made of rising house prices, but the average deposit needed in the first place has actually risen more than twice as fast as house prices and almost four times as fast as income. This is why we are seeing first time buyers getting older, with more and more people struggling to get on the property ladder.”

Those who are saving were found to put away an average of 6.2 per cent of their annual income. Because the average UK employee earns an average of almost £1 million over their working life, this means those who do not pay into a pension are missing out on an average of £15,000 in tax relief.

Vince Smith-Hughes, head of business development at Prudential, said: “Failing to save into a pension means not only having to rely solely on the state pension in retirement, but also missing out on the ‘free money boosts’ which come with pensions, such as tax relief and employer contributions.”

Failing to make adequate provision for retirement could lead to financial problems in the future when you may find you need to sell assets such as your home for cash.

The Royal Institution of Chartered Surveyors (RICS) has released a statement pledging to examine ways the organisation can assist communities when they take on additional responsibilities and powers.

In the response, RICS outlined 12 ways it can channel the expertise of the organisation and its members to give support to processes such as the building of community housing. They will also aim to provide guidance on how to value self-build homes, so they are correctly valued by lenders for homeowners and future property buyers.

RICS spokesperson Stephen Hill asserted that RICS is committed to the support of initiatives which enable expertise and resources to be used for society’s benefit.

He said: “The responses to the Land and Society Commission’s report highlight the work RICS already undertakes and details the new approaches for property professionals to help communities achieve their aims in the context of localism.”

New figures released by the Financial Services Authority today (August 13th) show commitments are up 13 per cent on the previous quarter, though three per cent lower than the same quarter last year.

The amount given over in new advances for the quarter totalled £37 billion. This is comparative with the same quarter in 2010, but shows an 11 per cent increase on Q1 of this year.

Lending for house purchases represented 59 per cent of new lending advances in the quarter and 61 per cent of new commitment – both of these figures include an increase from the previous quarter due to a decrease in the remortgaging business.

A statistic of interest to those hoping to enter the property market is the proportion of new lending done at a Loan to Value level of more than 90 per cent, which rose slightly. However, it still remains below two per cent.

Figures released by the CML indicate that 30,600 loans were advanced in July, an increase of four per cent on the previous month. In addition, the total value of the loans awarded was £5 billion, a boost of six per cent on the previous month.

The loans awarded to home movers amounted to an average of 69 per cent of the property’s value – down one per cent from June.
CML director general Paul Smee said: “The UK mortgage market is currently holding steady.”

He went on to sound a note of caution for those hoping to sell their homes fast, stating that: “August saw global financial turmoil and unrest closer to home and recent Bank of England approvals figures do not necessarily suggest a continuing upturn in lending in coming months.”

This data emerged from the new Savings Survey data from NS&I, revealing an information gap that results from a reticence among older generations to share wisdom. Over a third of those above retirement age do not want to act as consultants to property buyers that want to sell their house fast because they believe younger people don’t want to hear such advice.

It may be a shame, then, that NS&I concluded that one fifth of respondents to the survey said that older family members are in the best position to give guidance on such matters.

NS&I savings spokesperson John Prout said: “Our findings indicate a lack of communication between generations in some families. These are challenging times for all of us, and as younger people are often making financial decisions for the first time having the opinion of someone who has already been through these life stages can be invaluable.”

Lloyds TSB researched the creation of savings pots for children, discovering that a quarter (26 per cent) of parents opened their first child savings account before their youngster reached the age of two. Just under a fifth (17 per cent) of parents in Wales and the north opened their child’s primary savings account before the age of one, as did eight per cent of Scottish parents. Indeed, it could marginalise the risk of these people having to get out of debt when they grow older.

Greg Coughlan, head of children’s savings at Lloyds TSB, said: “It’s never too early for children to learn the value of money and that pennies will grow up into pounds, given the right encouragement and guidance. Having parents and grandparents focused on children’s savings not only helps to increase financial awareness, but also promotes great budgeting skills. These skills will serve them well as they reach adulthood.”

Property search engine Globrix.com carried out the survey and discovered that one quarter of property buyers would want a discount on a house if there was tangible evidence that a smoker had once lived there.

Those who rent could be putting even more pressure on the market as a whole, as 60 per cent of landlords in the research revealed that they would not consider letting their properties to a smoker. Half of landlords went as far as to claim they would increase the rent for a smoker, while one-third have held back deposits to cover cleaning costs due to damage from tobacco smoke.

Jennifer Warner, who represents Globrix, said in a piece reported on WalletPop: “It is no surprise that in today’s ultra-competitive rental market, landlords are coming down hard on smokers, penalising them with higher rental charges and in many cases refusing to let properties to smokers at all.”

A recent feature for FT Adviser revealed that multi-asset managers are turning towards property for the first time since 2007. The report explained that the asset class – commercial, primarily – “now appeals as a ‘safe haven’ investment due to risk assets such as equities remaining volatile”.

Nonetheless, multi-asset managers are still re-entering the UK property market with marked caution, with a primary focus remaining on areas such as London and the south-east.

Head of global asset allocation at Investec Asset Management Max King said demand for residential property continues to exceed supply in London and the local areas around it. He explained: “Investing in property does look positive. Commercial prices have come back a bit in the last month so it is a good opportunity to add to UK property holdings, but the hotspot is London.”

Stressing that planning was key, the group suggested researching elements such as removal options well in advance, as well as starting the process of packing as early as possible.

In addition, property buyers are advised to pack an essentials box full of items they will need straight away, checking who you need to pick up the keys from in advance and being aware of access points to the property in order to keep the transfer of goods flowing.

Peter Bolton King, chief executive of the NAEA, said: “Moving into a house should be an exciting time, but too many people leave preparation until the last minute, which often adds avoidable pressure and expense.”

Data collected by Credit Action published today (September 2nd) puts the average household debt for September – including mortgages – at £55,814. In addition, a home is repossessed every 14.6 minutes; this amounts to 99 new properties every day during Q2 2011.

Total secured lending on dwellings at the close of July 2011 stood at £1,242 billion.

On a daily basis, 1,688 people are also being made unemployed, with 838,000 remaining unemployed for 12 months or more.

On top of this, 334 people are currently declared insolvent or bankrupt every 24 hours. As a result, many individuals are struggling to pay off existing debts or avoiding building further debt.

As such, some homeowners may be considering options to ease the pain, such as selling a home fast in order to steer clear of repossession.

Data published as part of their monthly price index shows that houses declined by 0.6 per cent in August compared to the previous month; this represents a 0.4 per cent decline on the same month last year.

The average price of a house for property buyers here in the UK now stands at £165,914 compared to £168,731 in July.
Commenting on the figures, Robert Gardner, Nationwide’s chief economist, said the slight house price decline seen in August “doesn’t change the picture of relative stability that has characterised the market over the past twelve months.”

He added: “Sluggish demand for homes, combined with only a gradual rise in the supply of available properties, has helped to keep property prices stable since last summer. We expect this trend to be maintained over the remainder of 2011, although downside risks have increased as UK and global growth prospects have weakened.”

Under the suggestions published for consultation, councils would be allowed more financial freedom to trade their assets and use receipts to improve existing housing as well as buying and building new properties.

The newly-tendered rules would allow local authorities greater discretion to use and improve council housing without having to seek permission from Ministers in every case.

According to Mr Shapps, these proposals come as a direct response from councils across the UK requesting that the current regulations and processes be streamlined.

Housing Minister Grant Shapps said: “If councils want to use their assets to improve the availability of housing for their local community, it is ridiculous that they are forced to ask a senior government minister for permission in every case. That’s why I am today proposing greater freedom for councils to enable the judicious sale of assets.”

Lending collectively by Santander, Barclays, Lloyds, Royal Bank of Scotland, Nationwide and HSBC is estimated to have made up 81.5 per cent of the total volume of loans in 2010, the CML revealed.

This means the big six gave around £111 billion in loans to property buyers, down from £119 billion in 2009.

Mid-market lenders did manage to increase their gross lending over the period, with those in the middle of the table of top lenders – between positions seven and 15 – awarding £19.6 billion in home loans last year. This is almost double the 2009 total for the same rankings.

Right at the top, Lloyds was once again the biggest lender in the country, with a market share of 22.1 per cent (£30 billion), ahead of Santander with 17.8 per cent (£24.2 billion).

The CML predicted a similar picture for next year’s lending table, stating that “mid-sized lenders seem likely to continue the 2010 trend of increasing their share of new lending”.

Stating that they believe the UK property market “remains stable”, the UK’s second biggest housebuilder indicated weekly sales were up four per cent since the end of June.

This may indicate that more property buyers are now coming to the market and more homeowners may now be looking to sell their house fast in order to move into brand new properties.

In the first half of 2011, the York-based group saw a period of decline with new home sales falling by five per cent compared with the previous year.

The group reported a dip in pre-tax profits of £40.5 million, down 41 per cent from the same period last year. However, this period in 2010 saw profits boosted by an increase in land value.

Meanwhile, the company reported an underlying profit of £59.7 million in the first six months of 2011, up more than 50 per cent on last year.

“The significant improvement in underlying profitability of the business has resulted from the combination of gross margin gains and a more efficient capital structure,” said Persimmon chairman Nicholas Wrigley.

The research also stated that 44 per cent of people feel more in control of their lives when their money situation is in order and 33 per cent of those polled also feel more confident when their finances are running smoothly.

According to the survey, an area Brits struggle with is talking about the topic of money, with only 19 per cent of those polled stating that they have someone they can trust or confide in about our financial situation. With this in mind, the Money Advice Service is launching a campaign to encourage people to talk about their finances.

Behavioural psychologist and author Professor Karen Pine said: “The findings confirm the strong link between people’s financial health and their emotional well-being. We do not live compartmentalised lives, when our finances are in good shape the benefits spill over into our general sense of well-being. It is worrying that only a fifth of us have someone to confide in about money matters.”

A survey of 617 mortgage intermediaries by the group revealed that almost one in five (18 per cent) say half of the clients they have seen in the last three months were seeking mortgage advice from a professional for the first time.

Furthermore, over a third of intermediaries stated that the level of clients visiting them who had never seen a mortgage broker before lay somewhere between the percentage of a quarter to a half.

This may mean that more potential property buyers are ready to take the plunge and become homeowners.

Charles Morley, head of sales at Kensington, said: “It is incredibly encouraging that so many intermediaries are seeing such a large proportion of clients who have never sought the help of an adviser before.”

These are the findings of new research conducted by Sandander Mortgages, which also reveals that buyers are willing to pay over £12,000 extra to reside within a good catchment area – great news for homeowners looking to sell their homes for cash who live in such an area.

Of those looking to buy a home within the next five years, 15 per cent stated that being within a school catchment area would be one of their main priorities.

Phil Cliff, director of Santander Mortgages, commented: “People are increasingly concerned about the value of a good education, and in some areas of the country, there is a significant amount of competition for places at sought-after schools. This has led to many parents trying to move to a particular area deliberately to improve their child’s chances of getting into their desired school.”

LCHO covers shared equity and ownership programmes that have been promoted by past and present governments. They were introduced to help families and individuals who would otherwise be unable to become property owners.

According to the Halifax review of LCHO, shared ownership and equity are the top choices for property buyers, representing 87 per cent of total transactions within this sector. This is up from 79 per cent in the period 2007 and 2008.

However, the recession has challenged the success of such schemes and the overall number of LCHO transactions fell by 44 per cent for the year 2009-2010 when compared to the previous year, as stated by those registered with the Tenant Services Authority.

Nitesh Patel, housing economist at Halifax, commented: “The sector has not been immune to the difficulties of an uncertain housing market, and there is still much work to do. However, schemes such as FirstBuy should have a positive impact, and we support efforts such as these to ensure that affordable housing is more readily available.”

According to Zoopla.co.uk research, property owners looking to sell their home fast have reduced the price of their home by an average of £18,500 or more. This suggests the property market continues to struggle, particularly as properties prices at £1 million and over have even been seeing more price reductions.

The luxury home market has been most resilient in recent times; despite this, 27 per cent of homes in this price bracket have seen price reductions. This compares to 25 per cent of properties being reduced three months ago.

Nicholas Leeming, business development director of Zoopla.co.uk, said, “Vendors continue to have to lower prices due to weak buyer demand. Sluggish economic growth has hit buyer confidence and tight-fisted lenders are currently making it impossible for swathes of would-be buyers to benefit from the price reductions.”

According to the statistics, costs for first-time buyers were 2.2 per cent lower on average in June than the previous year. Prices paid by buyers who had previously owned properties were also lower, with a decrease of two per cent.

The Index also indicates that prices dropped marginally over the quarter to June, by 0.5 per cent, marking a 0.6 per cent decrease over the month of June. The average mix-adjusted house price now stands at £204,981.

However, the cost of new properties rose; there was a 3.2 per cent increase in the price of new builds compared to an average decrease of 2.4 per cent in the cost of a pre-owned property.

A report released today (August 18th) found there to be as a marked increase in the number of house-hunters on the books of agents for the month. Although some regional differences can be noted, on average agents logged 299 people on their books for the month, up from 263 in June.

This is good news for homeowners looking to sell their home for cash as it marks the highest level of potential buyers in over two years.

There was also less competition for sellers in the marketplace, with supply levels decreasing slightly. NAEA agents recorded 70 properties available per branch; this is four fewer than the previous month.

NAEA president Wendy Evans-Scott said: “It is great to see that interest in property has reached a two year high, especially at a time when, traditionally, estate agents experience a lull in activity as people take a holiday abroad instead of house hunting.”

Calling the plans a “significant step forward in enabling the growth the UK requires”, the group has affirmed its belief that the changes could help deliver badly-needed employment and create affordable housing for property buyers.

RICS states that proposed reforms to the planning system should make for a more “workable” system for the local community and be “more responsive to public need”.

However, not all organisations have been pleased with the draft that aims to streamline the current system after Fiona Reynolds, director-general of the National Trust, warned the policy could lead to problems.

She told the Guardian last month: “The government’s proposals allow financial considerations to dominate and with this comes huge risk to our countryside, historic environment and the precious local places that people value.”

The latest Consumer Confidence Survey released on August 11th shows that consumer intentions to spend are at an all-time low; increasing bills, the economy and increasing fuel prices all cited as top worries.

In order to avoid debt problems, 71 per cent of consumers polled said they have changed the way they shop to try and cut household expenses, with 65 per cent moving to cheaper brands.

It is possible those with more serious problems may consider alternative strategies to raise their income, such as selling their home.

In addition to 60 per cent of Brits being concerned about personal finances, 73 per cent of those polled remained pessimistic about job prospects for the coming year.

British Retail Consortium director-general Stephen Robertson said: “The squeeze on disposable incomes is getting tighter. A third of people said they have no spare cash – a new record high. Weakness in the economy and rising utility, fuel and food bills top consumers’ concerns for the next six months. Even after paying out for essentials, households that do have spare cash are choosing to pay off debts and build-up savings rather than spend on the high street.”

The CML figures indicate the number or properties taken into repossession in the second quarter of 2011 was 9,000, only 100 down on the previous quarter.

With the number of repossessions failing to slow, Mr Shapps urged struggling home owners to prioritise asking for help before they are required to sell their home or lose it.

After taking the new figures into account the CML left their forecasted number of repossessions for this year unchanged at 40,000.

Housing Minister Grant Shapps said: “With today’s figures underlining how the worst recession for a generation has brought difficult times for Britain’s homeowners, my message to those homeowners is clear: the quicker you act, the more options you have to stay in your home.

“The Government is meanwhile getting on with the task of tackling the record deficit we inherited – to avoid the need for rapid increases in interest rates and keep the pressure off already stretched family budgets. I would also urge struggling households themselves to take immediate action to stay in their homes.”

A survey by moneysupermarket.com reveals that only a third of credit card users regularly think about the impact of a credit card purchase on their finances, as well as its potential of leading to mounting debts.

According to the research, £145 marks the threshold where most people start to consider the consequences of their credit card spending.

Consumers who find they relying on credit cards may want to consider pursuing other financial resolutions, such as realising their assets by selling their home.

Kevin Mountford, head of banking at moneysupermarket.com, said: “Using a credit card is a convenient way to pay for everyday goods, however it is easy for consumers to lose track of what they are spending, which could have potentially disastrous consequences.”

According to the latest RICS UK Housing Market survey (August 9th), 22 per cent of those surveyed reported that property prices fell for the month, giving a resulting net balance on June of -26, a small improvement from the previous year.

It would seem, however, that despite enquiries from new buyers rising by five percentage points, large deposit requirements are still putting off potential property buyers.

As a result, pessimism remains in the market, with 13 per cent of chartered surveyors expecting house prices to decrease further over the coming three months.

Commenting, RICS spokesperson, Ian Perry said: “The UK housing market continued to stall during July; prices edged lower and sales levels remained subdued. While the holiday season appears to have had some impact on the market, the continual problem of inaccessible mortgage finance is still preventing first time buyers from accessing the market. Unsurprisingly, with prices continuing to fall, many would-be sellers seem unwilling to lower their expectations and are reluctant to place their property on the market.”

According to the Halifax First Time Buyer Review released this week, the volume of towns and cities in the UK that are affordable regions for first-time buyers to live has now risen to a level last seen in 2003.

The data suggests the average price of a property paid by first-time buyers in June 2011 was affordable for someone receiving an average wage in almost half (48 per cent) of the local districts examined – the highest level for eight years.

However, the average deposit requirement tops £27,000, meaning the number of first-time property buyers remains constrained.

Stephen Noakes, commercial director of Halifax Mortgages, said: “The significant challenges in raising a deposit and widespread pessimism about the chances of being accepted for a mortgage are clearly preventing some potential first time buyers from even attempting to get on the ladder.”

According to the Chartered Institute of Personnel and Development (CIPD), research conducted for their report for summer 2011 Employee Outlook: focus on pay shows that almost three in five employees have suffered a pay freeze since January this year.
Even worse off are the one in 20 workers who have had a base pay cut, with this group now potentially considering options such as selling their home fast to realise their assets.

Commenting on the report, CIPD performance and reward adviser Charles Cotton, said: “Even those who are lucky enough to get an increase in their pay will find it below the current cost of living, compounding consumer belt tightening. Inflation figures later this month will highlight growing pricing pressures, which is likely to continue for some time.”

He purchased the ten-bedroom home near the Hollywood Bowl for a reported $11.5 million (£7.19 million). The home was originally put on the market in 2009 by Ben and wife Christine Taylor, but was recently reduced in price after they failed to find a property buyer quickly.

Mr Statham was slightly more successful when it came to selling his home fast, as he managed to offload his own LA bachelor pad last week.

A real estate source commented on his new love-nest: “The house has a very macho feel to it.
“You can image that Jason would have felt comfortable there. The decor is sleek and modern. It’s an amazing place but Jason wants to move somewhere new that suits Rosie’s style as well.”

Research by the organisation has shown that a rise in rates will impact the majority of private landlords, with a rate rise of two per cent having a negative impact on 89 per cent of respondents. A further 53 per cent stated that the bearing would be significant.

Eight per cent of those surveyed said they would be forced to reconsider their future in the sector, while six per cent predicted they would need to reduce their portfolios or quit the private-rented market altogether.

This means in the future, people who are looking to sell their homes quickly could have fewer potential buyers from this sector.
David Salusbury, NLA chairman, said: “These statistics show how important it is for a landlord expanding their portfolio to construct a sound long-term business plan when considering buy-to-let properties.”

The poll also reveals that of those who are not saving, two-fifths have never saved at all. In addition, the average age savers begin to save is currently 25.

The level of financial worry for some is shown by 64 per cent of people who have never saved saying they didn’t know when, if ever, they would be able to start.

Kevin Mountford, head of banking at moneysupermarket.com said: “It comes as no surprise that with the rising cost of living, large numbers of people feel they have no cash to put aside at the moment. However we really do need to see an attitudinal shift among UK consumers and see regular saving become part of everyday household budgeting.”

The NAEA is reminding potential buyers of five key points when buying a property: to see the property at different times of the day; to check insulation and heating; to look for signs of damp; and to consider the ‘all year round’ aspect when viewing gardens.

Peter Bolton King, chief executive of the NAEA, said: “It’s easy to be swayed by warm weather living when house hunting in the summer, meaning cool living rooms, large windows and lots of space for barbecues can be attractive. Yet it is important not to forget how quickly the British weather can change.”

Data from the Land Registry’s flagship House Price Index, published July 27th , shows that the average house price in England and Wales now stands at £161,479. This indicates a decline of 2.5 per cent on the average price of a property compared to the same period last year.

There was good news for homeowners looking to sell their homes for cash in London, as the region was the only area in the survey to see an increase in the average property price over the last 12 months, with a rise of 0.8 per cent.

The latest figures also show that the number of competed sales in England and Wales fell by seven per cent in the year to April.

This fall may prompt homeowners to investigate other ways of selling their home – such as using professional property buyers.

The report published today (July 28th) reveals most countries witnessed growth in both occupation and investment from property buyers, with most countries reporting positive rental and capital value expectations.

More than three quarters of respondents also expected investment demand to grow over the next quarter – excellent news for those looking to sell commercial property quickly.

The quarterly RICS Global Commercial Property Survey provides a snapshot of market conditions based on information collected from leading international real estate organisations, local firms and other property professionals.

Simon Rubinsohn, RICS chief economist, said: “We would have expected our survey results to reflect some impact of the recent economic ‘soft patch’, but interestingly, it looks as though commercial property markets around the world remain strong, regardless.”

Between May and June, the average number of properties on sale to property buyers per branch rose from 68 to 74.

In other good news for those looking to sell their house fast, the number of agreed property sales also increased, from an average of eight homes per branch up to nine, suggesting the rise in sellers confidence is in line with an increase in demand.

Wendy Evans-Scott, president of the NAEA, said: “The leap in available housing stock suggests increased confidence amongst sellers. They think there is a much better chance that their home will sell. For house-hunters, this is welcome news as it offers a wider choice of properties to pick from.”

With the Games set to start nearly one year to the day (July 27th 2012), the NLA have issued some tips to prevent home owners wishing to make cash from their property through short-term letting falling foul of the law.

Aside from using a reputable registered letting agent and issuing a contract for holiday let or licence, the NLA stress the importance of taking an inventory of the property and ensuring that all rent is paid up front.

Home owners should also make sure the accommodation is furnished well and that all the basics such as beds, sheets, towels and appliances are provided for guests.

To maximise rent yield, the organisation goes on to advise home owners to make sure their property is finished to a high standard.

Home owners looking for other ways to make cash from their properties may also consider selling their homes to a property buyer such as Gateway Homes, who purchase houses in all conditions and locations.

Statistics from the British Bankers Association for the month of June show that the value of all home loans approved for the month fell by 11 per cent compared to the same month last year to £7.6 billion.

The number of new loans for home purchase was also down by six per cent compared to the same period last year.

The seasonally adjusted average value of loans for house purchases rose from £147,700 to £149,700 between May and June.

BBA statistics director, David Dooks said: “Banks continue to lend for house purchase but the weak mortgage market is self-evident, although some growth is coming from the buy-to-let sector to meet demand for rental properties.

“Personal deposits are growing only slowly as some people may be using savings to pay higher household bills.

“Businesses, as has been seen elsewhere, are concerned about the economic outlook and, in weathering difficult trading conditions, they are putting off expansion or investment plans and limiting borrowing.”

This Follows the MPs meeting with NaSBA earlier in the year when he requested input from officials on how barriers to self-build could be removed, enabling those who are looking to sell their home to consider starting their own home building project in the future.

In the meeting NasBa unveiled 15 separate proposals in response to this request, including a suggestion that more land should be made available for self-build and that revolving funds should be accessible via a self-build support group.

Housing Minister Grant Shapps said: “Self builders deliver affordable, greener and more innovatively-designed homes, and make a big contribution to the number of new homes built in this country. But there is still significant opportunity for growth in the sector which can only be opened up if Government and industry work together.”

Comparison site moneysupermarket.com, has found that the number of mortgages for those with just a ten per cent deposit is at its highest level since November 2008, with 312 mortgage products currently available with 90 per cent loan to value.

In addition, the average rates on 90 per cent mortgages have fallen by 0.53 per cent in one year, meaning those looking to sell their homes fast may see more interest from buyers.

Clare Francis, mortgage spokesperson at moneysupermarket.com, said: “There is a severe shortage of first time buyers at the moment and one of the reasons for this is down to the fact that it’s been so difficult to get a mortgage unless you’ve had a deposit of 25 per cent or more. It’s therefore encouraging to see an increase in the number of 90 and 95 per cent mortgages available.

“That said, we are still a long way off the number of products that were available pre-credit crunch and those with smaller deposits are still having to pay a higher rate of interest than those who are able to put down 25 or 30 per cent.”

Over the same timescale, almost 600 mortgage products were removed from the market, indicating the fast pace of change in a sector that influences the prospects of those who wish to sell their property fast.

Brian Brown, Defaqto’s head of consulting, said: “Providers in the banking sector are facing a number of significant challenges, including rapidly changing and crowded product markets and consumers with increasingly complex and individualised needs.

“The pace of change within the banking sector is phenomenal, particularly when it comes to mortgages. Banks need to stay ahead of the competition to capture and retain market share. However, there are significant challenges involved in putting the right type of product together.”

Nick Clegg made his comments to Andrew Marr of the BBC on his Sunday morning show (July 17th). He declared that he was “incredibly worried” that worsening financial problems in Europe – such as Greece – as well as America’s failure to tackle its debts. The public may be worried that this could filter down in a number of ways, leading to a number of British citizens considering selling their houses fast to cope with money difficulties, should they worsen.

Mr Clegg explained that many property buyers have the wrong outlook with Europe, asserting that just because the UK is not a member of the euro does not mean that economic tensions would not filter through. As such, we cannot simply “wash our hands of it”, he continued.

Meanwhile, financial problems in the United States continue, as they agree on a plan to cut the level of borrowing and reduce debts. Arguments in the Senate and Congress between the Democrats and Republicans have caused tension that could affect the global economy, which were also flagged by Mr Clegg.

The company explained that the number of unsold properties on estate agents’ books is reaching record levels, meaning people may look to sell a house quickly with an alternative organisation.

This so-called “muted demand” has been caused by competition rises, resulting in the largest fall in July since 2008. Seven out of every ten properties put on the market this year have yet to change hands among property buyers, meaning the average number of houses with estate agents now stands at 78. This is the highest-ever total for the time of year.

Director of Rightmove Miles Shipside said: “Summer sellers are more nervous about their selling prospects than the early birds who asked even higher prices during the first six months of this year.”

In analysis, published this week (July 12^th), PwC revealed that after inflation is taken into account house prices are still likely to be 12 per cent below their 2007 peak in 2015.

In addition, there is just a 53 per cent chance that house prices will be higher than pre-recession levels in 2020, suggesting that the property market might not be back on its feet for those looking to sell their house fast.

John Hawksworth, chief economist at PwC, said: “We expect average UK house prices to drift down further over the next year and then enjoy only a modest recovery over the next few years. This reflects the dampening impact of declining real income levels and continued tight credit conditions for first time buyers in particular.”

Prudential revealed that concerns about retirement pots may force people to find alternative sources of income, such as through a quick home sale. However, many pensioners were still taking a tax-free lump sum from their pension when retiring and 79 per cent of those drawing a company or private pension in 2011 took a tax-free lump sum.

Meanwhile, one in ten respondents went on to admit that turning down a tax-free lump sum is now a decision they regret.

Head of business development at Prudential Vince Smith Hughes said: “The days of buying a shiny new car or going on a once-in-a-lifetime holiday may be gone, to be replaced by making savings and investments with the lump sum to supplement retirement income.”

According to moneysupermarket.com, people are using their credit cards on an average of 21 days after payday every month as their current account runs low.

A quarter of Brits (11 million people) fall back on plastic as a means of keeping themselves afloat and avoid a quick home sale, though others may not have the option given factors in the market. After all, one in ten of those polled use plastic less than 15 days after being paid.

One in three told the comparison site that they use a credit card each month for everyday items like petrol and food, though remain confident that they can pay it back. A further third use a credit card for larger items such as holidays, and many say they cannot repay it immediately.

Kevin Mountford, head of banking at moneysupermarket.com, said: “Unless you plan this properly and know you’re able to pay off your balance, this can be a dangerous trap to fall into. If you’re the type of person who doesn’t pay off their card every month, you need to look at the steps you can take to reduce monthly expenditure before turning to credit products.”

The RICS Housing Market survey reveals demand within the market underwent little change in the month – much as it has been for the last six months.

According to the experts, conditions remain precarious and the only property buyers who have sway in the current market are those who have sold their property or agreed a mortgage.

Fewer properties also came onto the market, with a net balance of plus one per cent in June. This suggests homeowners are now putting potential house sales on hold.

RICS housing spokesperson Alan Collett said: “The housing market was pretty flat during June. Buyer interest in purchasing property remains relatively low across much of the UK and the volume of new stock coming to the market has slackened. With continued uncertainty over the jobs market and the economy, this subdued picture is set to continue.”

However, the CML was keen to stress that lending volumes were still weak on a historic basis; despite there being a monthly increase in house purchase activity, it still remains below the level seen in May last year.

Michael Coogan, director general of the CML, said that seasonal factors will likely push lending for house purchase further, adding that stable conditions should remain for the rest of 2011.

“Funding market conditions appear a little more positive, for example, recent securitisation deals suggest confidence has returned as investors regain their appetite to invest in bonds backed by mortgage assets,” Mr Coogan added. “Overall, this is a positive influence on mortgage market conditions.”

According to unbiased.co.uk, searches for whole of market mortgage advice hit 40 per cent in June 2011, a rise of four per cent on the previous year and a level not seen since April last year.

Potential property buyers also maintained interest in the buy-to-let market with nearly one in five consumers searching on the site looking for advice on this particular topic.

Karen Barrett, chief executive of unbiased.co.uk, said: “Our ‘find a mortgage adviser’ figures suggest that confidence in the mortgage market is returning; we are seeing quite fast-paced changes with a number of mortgage lenders having made their products more available by increasing the loan-to-value and offering attractive rates as the base rate remains historically low.

“This has led to an increase in the demand for whole of market mortgage advice from first-time buyers – it’s really good to see that they are looking for this type of advice to ensure they get a complete overview of all the products which are currently available to them and make the best choice according to their financial position.”

uSwitch’s research discovered that lower-income households and pensioners were being hurt by the prospect of fuel poverty, though the more-affluent middle class is now hurting from rising bills. The company said that if fuel poverty is re-defined to be calculated following housing costs, fuel poverty levels jump even higher to almost nine million people, or a third (33 per cent) of all households.

Ann Robinson, director of consumer policy at uSwitch.com, was worried that people may be unable to keep up their payments on their house and, as such, be forced into a quick home sale.

She said: “Start to factor in housing costs such as mortgage and rental payments and we are left with the shocking image of a third of all British households living in fuel poverty. The sad truth is that consumers are paying a heavy price for this country’s disjointed, incoherent and unaffordable energy policy.”

Working from its latest report in conjunction with Nielsen, the British Retail Consortium (BRC) revealed that overall shop price inflation jumped to 2.9 per cent in June from 2.3 per cent in May. Meanwhile, food inflation jumped to 5.7 per cent from 4.9 per cent and non-food inflation rose to 1.3 per cent – a climb of 0.5 per cent.

BRC director-general Stephen Robertson was adamant, however, that the high street’s price rises were not to blame for people looking for alternatives to escape their debts, such as a quick home sale.

He said: “Household budgets are under pressure. Real disposable incomes have dropped the most in 34 years but increasing petrol and energy bills plus low wage rises are the main causes.”

Mr Robertson added that shop prices continue to grow much slower than the Consumer Prices Index and added that the effects of the weak pound on import costs and higher VAT are “beyond retailers’ control”.

This is Money revealed the surprising statistics by the Joseph Rowntree Foundation, which underlines how many property buyers may be looking to sell their house fast and downsize. While official figures show living costs jumping by just five per cent a year, families desiring childcare typically have to raise gross earnings by four times to maintain living standards.

The foundation asserted that freezes and cuts in child benefits have forced the hand of families to look at other ways to cut corners to maintain a higher standard of living.

As a result, low-paid women may even struggle to earn enough to cover the cost of childcare. Research found that a couple with two children now needs at least £18,400 each, or £36,800 between them, to meet its measure of a good quality of life.

New research from Santander shows that closeness to work is the top priority for homebuyers, with 33 per cent of prospective buyers stating it to be the number one factor they consider when buying a home.

Being near a decent school was also on the list of desirables, as a good catchment area comes in second place on the list.
Good public transport links, having a garage or car parking space and having a south-facing garden were also cited as factors that made a winning property.

Understandably, living in a nice neighbourhood was also on the checklist and the average buyer stated they would be prepared to pay over £7,800 to move into a safer neighbourhood.

Phil Cliff, director of Santander Mortgages, said: “It’s fascinating to see the value that prospective buyers attach to different property features, and how these evolve as people get older and family situations change. Some of the most in-demand privileges, however, such as close proximity to the city or good schools, come with an expensive price tag.”

The research, published yesterday (June 30th), revealed that a quarter of all UK homebuyers fail to have a survey carried out on their property. As a result they are forced to make unplanned building works averaging over £1,800, with costs soaring even higher in some cases.

Now that more property buyers may be aware of this danger, those who are looking to sell their house fast might consider offering a survey up front to push their property sale along quicker.

RICS spokesperson David Dalby said: “In difficult economic times it pays to be prepared. Nobody wants to be left with a home that needs extensive repairs or one they can’t sell on. By having a survey you’ll be armed with information on the condition of the property which puts you in a stronger position to decide whether to proceed with the purchase, or negotiate a better deal.”

The building society claimed that while there may be a number of people wanting a quick property sale, the weak level of mortgage applications in recent months suggests that new buyer enquiries continue to be sluggish.

Robert Gardner, chief economist of Nationwide, explained that while there have been encouraging developments for households up and down the country, this hasn’t been enough to reinvigorate the housing market.

He continued: “Employment has been edging up and consumer confidence surged in May – although the latter may have had more to do with unusually warm weather and extra bank holidays, rather than signalling the arrival of any recovery-related feel good factor.”

Richard Banks, the chief executive of UK Asset Resolution (UKAR), has said that UK households need “tough love” to help them prepare for the looming rise in interest rates.

The UKAR are responsible for running the £80 billion mortgage bailout scheme introduced to help tackle the banking crisis.

In an interview with the Guardian, published this week, he said that the Labour government’s efforts to encourage lenders to keep families in their homes at the start of the crisis actually forced some homeowners further into debt.

Mr Banks sounded an alarm that the industry may have been too lenient with some customers and that stricter guidelines are needed to get the industry in a better position.

If these predictions take shape, some of those in debt may need to consider options such as a quick home sale in a bid to prevent repossession.

A survey of over 2,300 site users by price comparison site moneysupermarket.com found that one in three people are currently worried about the spiralling cost of running a home.

Other prominent concerns included the rising cost of motoring (13 per cent) and worrying about debts (12 per cent).

Another concern among those surveyed was upward by the Bank of England’s base rate (11 per cent), which could impact on homeowners and property buyers.

With the cost of living continuing to rise while disposable income reduces, it comes as no surprise that many consumers remain uneasy about their financial situation.

Clare Francis, personal finance expert at moneysupermarket.com said: “Many consumers are paying far more than they need to for their household bills and there are significant savings to be had by switching to a better energy tariff and making sure that you find the best deal when your car or home insurance is up for renewal – the savings can literally add up to hundreds of pounds over the course of the year.”

The Bank of England revealed last week that Lloyds Banking Group’s exposure to risky mortgages is more than double that of any of its top five rivals, leading the Financial Times to label the provider as a potential “ticking time bomb”.

Loans accounting for one in four of Lloyds’ mortgages are worth 90 per cent or more of the property value they are secured against, making it a questionable situation for a number of property buyers in the UK.

Just 12 per cent of loans covered by Royal Bank of Scotland and Santander have these high loan-to-value credentials. Nationwide, HSBC and Barclays have an even smaller proportion.

Ultimately, these kinds of loans more likely to fall into arrears if home buyers fail to contribute the right deposits, possibly setting Lloyds up for a rocky future should recessionary trends return to the UK.

Research conducted by Post Office Mortgages shows that more than 28 per cent of women aged between 18 and 34 are looking to buy in the immediate future, compared to just 20 per cent of men in the same age category.

With this in mind, home owners who want to sell their home fast may want to appeal to this new breed of property buyers who have been dubbed ‘FABs’ – or female and buying.

The survey also revealed that prospective buyers are lowering many of their expectations across the board in order to find an affordable property and get their foot on the first rung of home ownership.

Post Office head of mortgages Mike Cook said: “Our research shows that female first time buyers are happy to compromise on the more superficial aspects of property ownership because they see buying a home as a financial investment in their future.”

Corby was found to have the highest rate of homeowners at risk of losing their home, closely followed by Barking and Dagenham and Newham in London, Knowsley in the North West and Thurrock in the East of England.

The report published on Tuesday (June 21st) found a strong link between unemployment and rates of repossession orders and warns that as many as 45,000 repossessions could take place in 2012.

Campbell Robb, Shelter’s Chief Executive, said: “We know only too well that the combined pressures of high inflation, increased living costs and stagnant wages are really taking a toll on people.

“It is absolutely vital that struggling homeowners, in particular those at risk when interest rates rise, get help before things spiral out of control.”

The consumer champion went on to warn that a rate increase could leave thousands of property buyers in financial difficulty; a one per cent rise would add over £50 to monthly repayments if someone has a basic 20-year mortgage of £100,000.

Which? added that seven in ten people are worried about their mortgages, while a further two in ten fear repossession.

Chief executive of Which? Peter Vicary-Smith said: “Banks have enjoyed increased margins on mortgages for the last few years and when the base rate rises again, few lenders will be able to justify passing the full amount onto their SVR customers.”

The new FirstBuy programme will see over 100 housebuilders offer new-build homes to first-time buyers who may otherwise struggle to get onto the property ladder.

The government and housebuilders will work together to offer a 20 per cent equity loan, alongside a five per cent deposit from the buyer, which will allow the potential home owner to take out a 75 per cent mortgage for the property.

It is hoped the scheme will help up to 15,000 people across the UK within its first two years; the first wave of properties will become available in September.

Stewart Baseley, executive chairman of the Housebuilders Federation, said: “FirstBuy will help first-time buyers, boost economic growth and provide a vital shot in the arm for the housebuilding industry. Our members have reacted decisively to support FirstBuy and recognise the scheme is an important first step.”

Based on the company’s own data, people in the best areas of the UK have seen the value of their homes rise by nearly £150,000 over the space of a decade, due to huge interest from property buyers.

The bank went on to explain that the average house price in the ten areas that recorded the biggest rise in economic activity in the UK between 1998 and 2008 rose by 219 per cent (£146,984), from an average of £67,178 to £214,162.

Edinburgh, Liverpool, London and Belfast were among the major growth areas, though large parts of the north stalled compared to southern rivals.

Housing economist at Halifax Suren Thiru said: “Unsurprisingly, house price growth over the past decade has been stronger in the areas that have seen the biggest increases in economic activity. The north-south divide that has opened up recently with the general outperformance of the housing market in southern England appears to reflect the stronger economic performance of these regions.”

The ONS study looked at the effects of taxes and benefits on income inequality in the UK from 1980 to 2009/10. It found that although richer households in the country pay a larger proportion of their income on indirect taxes, these taxes have been regressive over the last 30 years and therefore make little difference to income equality.

Although direct taxes have reduced inequality, indirect taxes – such as VAT and fuel duties – have increased inequality by roughly the same amount. As a result, inequality remains relatively unchanged.

Retirees and other low income earners have been hit hardest, leaving some to resort to a quick home sale and downsize to release equity in their property.

Data released by the group this week indicates there were 40,900 loans, worth £5.9 billion awarded for house purchase in April.

This figure is up from 37,900, worth £5.5 billion, in March but remains down from a figure of £6 billion, a year earlier indicating that house purchase activity is still below the level seen in 2010 – an on-going problem for those who wish to sell their homes fast.

For those who are looking to get cash by releasing equity in their home the fall in remortgaging could also signify a blow.

Remortgage lending fell in April from 24,700 loans set at a value of £3 billion compared to 34,100 loans the previous loans put at a value of £4.1 billion. However remortgaging remained marginally higher than April 2010.

Michael Coogan, CML director general said: “The market continues on a stable footing and the increase in house purchase lending is a good sign that the stability will continue throughout 2011. However, the economic outlook, coupled with Bank of England subdued approvals data for April, suggests a muted summer for mortgage completions so we do not expect further increases in lending over the coming months.”

Analysing latest statistics of the labour market, the TUC concluded that it could take as long as five years for the UK to restore its pre-recession employment rate, meaning more people will be out of work for longer.

The research looks through employment rates for working-age adults between February 2008 and February 2011. As it stands, it will be five and a half years before the country goes back to pre-recession levels of 73 per cent – potentially pushing people to look for a quick home sale to tie them over.

“The government’s spending cuts have already hit consumer and business confidence, and they will start to cause heavy job losses in the public sector too,” said TUC general secretary Brendan Barber. “The government must rethink its economic strategy before unemployment starts rising again.”

Newly-agreed sales in May slipped back from the previous month’s reading, as only five per cent more surveyors reported a sales rise rather than a fall.

Meanwhile, the average number of completed sales per surveyor fell by 3.4 per cent in the three months leading up to May to just 14.7 per cent. This reflects the lowest completed sales figure since January, suggesting that those looking for a quick home sale may be disappointed.

RICS housing spokesperson, Ian Perry, explained: “Buyer interest in purchasing property remains flat across much of the country and there is little sign of this changing any time soon. Uncertainty over the economic outlook remains as important as the availability of mortgage finance in depressing demand.”

The poll, conducted by Ipsos MORI on behalf of Halifax revealed that despite house prices falling by 1.2 per cent in the first quarter of this year, a third of people surveyed expected prices to rise.

Around 26 per cent expect no change in property prices at all and 23 per cent anticipate a fall, suggesting that a quick home sale on the traditional property market is unlikely. Meanwhile, just 15 per cent of respondents were positive about buying and selling in the next twelve months.

Suren Thiru, housing economist at Halifax, summarised: “[C]onfidence in the UK housing market is likely to remain subdued over the coming months, given consumers’ concerns over the outlook for the UK economy in general, and the jobs market in particular.”

Kevin Mountford, head of banking at moneysupermarket.com, noted that individuals could find themselves in a tough situation, particularly those with variable rate mortgages.

He asserted that property buyers with this payment package would struggle to face up to a 0.5 per cent rise in the base rate, as a £150,000 variable repayment mortgage on an average 4.80 per cent standard variable rate would see a rise of £43.80 per month; this means a base rate rise of just one per cent would see additional repayments of £88.70.

Mr Mountford added: “Since the base rate dropped in March 2009, many consumers have taken advantage of lower mortgage payments and absorbed the savings into everyday living costs. The danger for these consumers is that when rates rise, as they inevitably must, many will find they don’t have the ability to cope with their increased repayments.”

According to its most recent Personal Debt Snapshot, R3 explained that eight million people – including many property buyers – are due to go into their overdraft this month.

One quarter are balancing on the precipice of an unauthorised overdraft position, the organisation explained, while a further six million are falling behind with bills or payments – a rise of two million on the previous quarter.

Frances Coulson, president of R3, said the figure was very worrying, adding: “It is clear that many have found themselves in a position whereby they have to go into and often exceed their agreed overdraft in order to keep on top of their bills and debt repayments.

“Unfortunately, more often than not this leads to bank charges, which further deplete the amount available for bills. It’s a catch-22 situation which can result in debts snowballing.”

According to the Trades Union Congress, this is despite the UK economy more than doubling in size over the same time; it highlights the need for many people to seek alternative sources of funding, such as a quick home sale or secured or unsecured loan.

The figures were revealed in Britain’s Livelihood Crisis, the latest TUC pamphlet detailing how the recession is often cited as the cause of income squeezes, even though these issues have been prevalent for three decades due to an “unsustainable rise in personal debt”.

TUC general secretary Brendan Barber said: “While a small financial elite have grabbed an ever larger share for themselves, many people on low and middle incomes have seen barely any improvement in their incomes, while some have even seen their take home pay fall.”

The London mayor explained that the First Steps London Homes Show has been created in a bid to help people get onto the capital’s property ladder through lower-cost homes.

Mr Johnson’s scheme targets first-time buyers with an income of less than £60,000 per year; First Steps Buy and First Steps Rent will appeal to both permanent and temporary homeowners looking to buy a house fast.

The Queen Elizabeth II Conference Centre in Westminster is free to attend and will have 20 of the biggest affordable housing providers in London in attendance, as well as independent financial and legal advisors.

Boris Johnson said: “The London Homes Show, along with the new First Steps website, is a great way to help many Londoners into affordable homes and, if they wish, to take the first step into home ownership.”

A survey conducted by LSL Property Services plc found that 49 per cent consider it to be a good time to invest in property, while only one per cent thought it was a good time to be reducing portfolios.

Higher demand for buy-to-let properties could be good news for homeowners looking for a quick home sale, with 68 per cent of landlords expecting tenant demand to grow over the next year.

Of the landlords polled by the property group, 86 per cent said they were planning to conserve or increase the size of their portfolios over the next year, with growing rental demand the main reason for increased confidence.

David Newnes, estate agency managing director for LSL Property Services plc, said: “Optimism among landlords is not only buoyant, but increasing. Soaring rents and climbing demand from frustrated first-time buyers are not only making buy-to-let an attractive proposition for new property investors – but are encouraging existing landlords to grow their holdings before property prices increase once more.”

Figures from the charity also reveal that the average household debt in the UK currently stands at £8,121 excluding mortgages, with the figure increasing to £15,618 if households who have some form of unsecured loan are included.

Secured lending on dwellings stood at £1,241 billion at the close of April, rendering the twelve-month growth rate unchanged at 0.7 per cent. The average household debt including mortgages fell however and now stands at £55,854, suggesting that property buyers and owners are paying down debt.

Joanna Parsley, associate director at Credit Action said: “June’s debt statistics show some interesting trends. As consumers we are choosing to pay down our debts, as this month shows that on average household debt excluding mortgages decreased by £23 to £8,121 and similarly, average household debt including mortgages fell by £16 to £55,854.

She added; “Paying down debt is good, sensible money management advice, yet as consumers we’re doing it against a backdrop of an ever increasing cost of living.”

According to statistics from the Land Registry, the average house price in England now stands at £163, 083, although this shows an increase of 0.8 per cent on the previous month, it does represent a 1.3 per cent drop year-on-year.

Property buyers in London are likely to be paying considerably more this year for homes according to the figures, with prices in the region showing the highest annual price change at five per cent. Whereas, those looking to sell houses fast in the North East may have to lower their asking prices, as the region experienced the greatest annual price fall with a decrease of -8.1 per cent.

The most up-to-date completed house sales from the Land Registry show that the number of sales in England and Wales decreased by ten per cent in February 2011, compared to the previous year.

Prices outside London fell by 0.25 per cent in May, following a 0.2 per cent decline in April. Meanwhile, properties in the capital showed a small but significant average price increase of 0.2 per cent in May, following a 0.2 per cent decline in April.

House prices are expected to fall by one per cent by the close of 2011 and demand to decrease over the summer, with sellers being forced to cut house prices in areas outside London. With this in mind, residents outside the capital city might instead turn to an alternative route to sell their house quickly.

Richard Donnell, director of research at Hometrack, said: “When demand starts to fall, sellers are typically forced to accept price reductions on their property.”

The survey has shown that 20 per cent of warring couples took legal action in an attempt to keep custody of their companion, proving it is common for a pet to be a key member of the modern family and a significant consideration during many break-ups.

The separation process is a drawn-out and testing experience for most couples and many choose to sell their house fast to cut ties as quickly as possible. However, for the majority of couples – including celebrities Cheryl and Ashley Cole – the possible parting from a cherished pet has made this even more difficult.

The poll revealed that ten per cent of people felt that losing ownership of their pet was harder to come to terms with than splitting from their partner in the first place.

Banks’ annual net mortgage lending stands at £7.9 billion, the stats show, while monthly lending for April was 2.2 per cent up on the previous month, easily ahead of the 0.7 per cent increase in March. Meanwhile, gross lending figures have been stable over six months, but have fallen by five per cent year-on-year.

Despite banks now being able to meet the need for home loans, demand from buyers remains weak meaning that those looking to sell property fast may be disappointed.

BBA statistics director, David Dooks, explained: “Individuals and businesses continue to save more, pay off debt and borrow less as uncertainty about the economy has entrenched a ‘wait and see’ attitude.

“However, banks are still able to meet the need for home loans even though demand remains weak.”

Estate agent sales that were agreed in April remained the same as the number of sales for both February and March – an average of eight properties per branch during the month – the figures revealed.

However transaction volumes are still considerably lower than pre-credit crunch levels when they reached a peak of 14 per month in early 2007.

NAEA said its members reported a surge of activity during the early stages of April in the run-up to Easter, with interest waving over the extended bank-holiday period.

NAEA president Michael Jones said: “Although regional variations do remain, this latest report indicates that the housing market is showing some overall resilience to economic pressures.”

Key Retirement Solutions found that some over-65s were paying as much as £2,099 a month on mortgages with others making monthly repayments of £1,200 on loans and £2,000 on credit cards.

During the first quarter of this year, 31 per cent of home owners used some or all of their cash raised from equity release to clear mortgage, credit card or loan debts. Some of these opted to sell their house quickly to free-up equity completely and get back on top of their finances.

Dean Mirfin, group director at Key Retirement Solutions, said: “It all adds up to a major squeeze on incomes but there is silver lining in that they are literally sitting on considerable wealth in their own home.”

The stats showed that just 66,000 homes were sold in April, 1,000 fewer than in March and 6,000 fewer than in April last year. In addition, house sales in the initial four months of this year were found to be five per cent down on the same period of 2010.

The research suggests that the harsh economic climate and continued rationing of mortgages isn’t helping matters and the property market has stagnated, with little obvious evidence of any immediate upturn.

Given these figures those who are looking to sell their house quickly may now look to alternative methods to the open housing market to secure that all-important sale.

The manifesto explains the economic benefits of increasing house building which it claims will create around 200,000 jobs and provide more options for people looking to sell their house fast and move into a new property.

Among a number of other measures in the manifesto, the HBF is asking councillors to pledge to draw up Local Development Plans and ensure a sufficient supply of good land for housing.

Stewart Baseley, the executive chairman of HBF, said the creation of homes is not an easy job, but it was important to the nation’s recovery.

He continued: “We are asking local authorities to take this responsibility seriously, to put viable local plans in place without delay; work with house builders to remove regulation and red tape and enable the industry to build the homes the country needs. In return they will reap the benefits through local economic growth, new jobs created and investment from central government.”

has suggested that significant changes should be made in the UK to stabilise the volatile nature of the housing market.

According to the report, the UK has one of the most volatile housing markets due to the four boom and bust cycles recorded since the 1970s, which have made for periods of difficulty for both property buyers and those who want to sell property fast.

The Foundation suggests that to balance the market in future an increases in housing supply is needed in order to merely maintain current house price levels. It goes on to state that credit controls be brought in and taxes reformed in order to reduce the impact of boom and bust cycles in the short term.

The main crux of the study concludes that current safety nets for homeowners are inadequate and should be replaced by a three-tier approach based on responsible lending and borrowing in order to make the process more secure.

In new research, the company concluded that the over the course of the year, the average annual cost of owning and running a home rose by 1.4 per cent – £127 – from £8,956 in March 2010 to £9,083 in March 2011.

Halifax highlighted how many people may be looking to sell their house fast to get a more affordable pad, after rises in nine out of the 11 housing spending categories. Electricity and gas charges added £68, while maintenance costs rose by £45.

Suren Thiru, housing economist at Halifax, said: “Household finances remain under pressure with the significant drop in mortgage payments since 2008 mostly offset by increases in other household bills. The current strain on household finances is particularly concerning at a time when earnings growth remains weak.”

Many people looked to draw the value from their house once more, instead of relying on selling their home fast, the CML asserted. It explained that remortgaging accounted for 37 per cent of all lending in the quarter, an increase from 30 per cent in the last quarter of 2010.

There were 33,900 loans up for remortgage with a £4.1 billion total value in March, up 16 per cent in volume and 17 per cent by value compared to February.

The number of loans for house purchase in March also increased by 24 per cent to 37,800; value increased by 26 per cent to £5.4 billion.

Michael Coogan, director general of the CML, said: “Looking ahead to lending figures in the coming months, the Easter, royal wedding and May bank holidays will impact on the level of activity, timing and spread of completions in the second quarter meaning that any one month’s data should not be interpreted as a reflection of a trend.”

This month, the organisation claimed that the average asking price for a house rose to £238,874, representing a 1.3 per cent rise on the previous month. This now puts the figure at its highest level since June 2008, restricting the number of quick home sales.

Price rises were linked to a fall in the number of houses being put on the market. This apparently dropped 30 per cent to 20,000 a week, as the bank holiday distracted many people for one reason or another; the royal wedding and warmer weather has been cited.

Director of Rightmove Miles Shipside warned that people could miss out on selling their home in the popular spring buying period, adding: “The Bank of England’s decision to hold interest rates at unprecedented low levels has disrupted the traditional economic formula of an excess of supply over demand leading to lower prices.”

Director of external affairs at the FMB, Brian Berry, explained that the Green Deal hopes to persuade homeowners to make houses more energy-efficient. He argued that people would be unwilling to get involved unless the government offers additional incentives.

Over two-thirds of respondents to the FMB survey believed that cutting VAT to five per cent on all energy-efficient materials would increase homeowner interest, while a quarter said council tax reductions would be the best incentive.

Mr Berry added: “Small, local building companies should be the natural choice for homeowners wanting to retrofit their property or make it more energy efficient. This would help ensure that small building companies can compete fairly with the larger companies who will be offering ‘one–stop-shops’ to consumers.”

In its latest report, the independent think tank said the shift was down to high inflation coupled with wage increases; property buyers will have felt the effects of losing in excess of £500 during the year. The IFS claimed that most of the decline was a result of sharp falls in earnings before the addition of tax credits, pensions and benefits.

The net loss for a typical household now stands at around three per cent over the year, meaning many people may be looking to sell their house faster than they anticipated.

As a result, income is now comparable to that found in 2005; even though official data on incomes during the financial year to March 2011 will not be published for another 12 months, the IFS sees this trend as very likely.

Property buyers who have moved to new places after selling their house fast in another area are often confused about the best rates for energy. Naturally, many companies want to take advantage of this, though the Big Six energy providers have increasingly agreed not to operate in areas that have been identified as “No Cold Calling Zones” (NCCZs).

Surrey Trading Standards’ recent investigation into these practices resulted in a landmark guilty verdict for one of the Big Six.

Chief executive for TSI Ron Gainsford said: “By choosing a provider there is a real place for consumers to drive genuine competitiveness in the energy market, but to do so they need to be given much more confidence in their switching options being based on true and beneficial information.

“TSI is open to working with the industry, Ofgem, the good switching sites and our consumer partners to achieve this.”

If the latest Bank of England prediction that gas prices could increase by as much as 15 per cent and electricity by ten per cent comes true, household energy bills would be forced up to a record £1,279. This represents an extra cost of £148 being added to the average household energy bill.

Price increases implemented by energy suppliers in March have already increased bills by six per cent, meaning many householders may be finding their financial situation worsen.

Tom Lyon, energy expert at uSwitch.com, says: “This is grim news for consumers. Two suppliers have already hinted at more price rises, but this warning from the Bank of England seems to bring a second round of energy price hikes a step closer.  Households are still feeling stretched by the previous increases that only finished a couple of months ago in March.”

Homeowners who are experiencing problems paying their bills may want to explore ways of reducing their debts such as selling their property for cash.

The latest Silver RPI published by Age UK Enterprises indicates that since 2008 increases in the prices of services and goods measured by the Silver RPI compared to the Headline RPI now costs the average adult aged 55 and over an additional £9181 per year.

This sum is even higher among some age groups with the average 65-69 year-old facing extra costs amounting to £10,542 since 2008.

Age UK Enterprises suggest this gap between the inflation experienced by the population as a whole and those later in life, has partially been caused by the sustained low interest rate. This has kept mortgage payments low; however, this does not benefit a large proportion of older adults who have no mortgage debt and older Brits may now be considering selling property for cash to raise living standards.

Gordon Morris, managing director at Age UK Enterprises said: “The inflation experienced by those in later life is getting closer to that experienced by the general population but rising costs continue to be an issue.  This means it is more important than ever for consumers to get the best value for money. To help, this month Age UK launched ‘Let’s Talk Money’, a campaign aimed at reducing and preventing poverty, as well as helping consumers maximise their income.”

Its residential property report predicted that property buyers can expect house prices in Scotland to fall by 2.5 per cent before stabilising again in 2012. They will only register a strong rebound by 2015, remaining relatively stagnant until then.
However, Faisal Choudhry, associate director for residential research at Savills, explained that people will still continue to sell property fast in the prime market.

He said: “We are now standing at the base point of the next housing market recovery where we expect to see a steady, moderate and sustainable increase in transaction numbers and prices. This recovery is being kick-started by cash rich buyers, a growing number of whom are from London and the Home Counties, and also from overseas.”

The star is reportedly writing his memoirs with the aid of a biographer in order to raise funds for his divorce from wife of 19 years Alyce Faye Eichelburger. Mr Cleese states that he was “naïve” about divorce before the settlement, despite previously having been married twice – to Connie Booth and Barbara Trentham respectively.

The book, titled The Maintenance Memoirs, is likely to command a substantial advance from publishers and is said to be a very creative venture. The 71-year-old told The Sun: “I don’t think anybody’s ever done one like this. I’d been putting it off – partly because I was too busy, and also because it was too difficult trying to remember things.”

For many couples who are unable to raise funds in this way divorce can be an especially difficult time. Selling your property fast can enable you to raise cash quickly and focus on your future.

Joined by the British Property Federation (BPF), the UKGBC sent an open letter to the prime minister and a range of other senior ministers to seek action in promoting a more renewable society.

Public sector buildings already require this certificate, while the government has already asserted that it will extend certificates to commercial buildings by October 2012, possibly leading to a rise in the number of fast property sales.

UKGBC chief executive Paul King said: “It’s very simple – if you don’t know how much energy you are using, you can’t manage it. We’ve simply no idea how our buildings up and down the country are actually performing, so mandatory A-G ratings are the crucial first step in helping businesses understand and reduce their energy use.”

In its most recent survey, 18 per cent more chartered surveyors reported a rise over a fall in new instructions – a rise of four per cent on March. Demand moved to a net balance of zero per cent; this was the first time it was out of negative territory for ten months.

Rics housing spokesman Michael Newey said that the return of sellers to the market is a positive thing, though transactions are likely to remain subdued and the market will probably not pick up over the next few months.

He explained: “Although there are signs that some lenders may be reducing their grip on the purse strings, in particular with mortgages aimed at first time buyers, there is still a long way to go before lending levels increase enough to have any real impact.”

Their monthly UK debt statistics released yesterday, indicate that homeowners are continuing to struggle to pay their debts, with the average household debt including mortgages now standing at £55,870.

Unemployment continues to be a factor in individuals mounting debt problems with 1,392 people being made redundant daily and 847,000 people having been unemployed for a period of over twelve months.

The rising cost of daily expenses is also placing pressure on household budgets with the cost of filling a car with a 50-litre tank of unleaded petrol now standing at £67.90.

Commenting on the statistics, Joanna Parsley, associate director at Credit Action, said:  “May’s debt statistics show some interesting trends. Although the amount owed by every UK adult has fallen by approximately £30, in light of rising credit card interest rates- which at an average of 19.1 per cent are now at the highest levels seen in 13 years- paying down debt has never been more sensible advice.”

The findings show that house sales involving cash buyers more than doubled from 18.7 per cent in June 2005, when the first report was published.

The CML recorded a steep drop in net mortgage lending from £108 billion in 2007 to just £8.4 billion last year.

Lower lending levels have led to more individuals who want to sell their house turning to alternative transaction methods, and as a result the proportion of sales that went to cash buyers has increased.

A spokesperson for CML said: “The number of cash purchases has not changed very much. Property transactions are lower than a few years ago, so cash purchases account for a higher proportion of sales than previously.”

As it stands, the average cost of a home north of the border dropped by over seven per cent in the first three months of 2011 when compared with the end of 2010. During the same period, house transactions fell by 35 per cent.

It means that people could have real problems if they want to sell property fast. The trend has also caused the average cost of a property to fall to £146,253 – a drop of a whopping £12,000 when compared to the end of 2010.

Additionally, the total value of sales across the country dropped by 40 per cent and just 12,800 houses changed hands between January and March – 7,000 fewer than the quarter before.

The house price monitor found that house prices in the three months to April were 1.2 per cent lower than the previous three months, continuing the trend of decline which has been recorded since the middle of last year.

The average UK house price now stands at £160,395, which is four per cent above its April 2009 low but stands 20 per cent below the peak of prices seen in August 2007. As a result homeowners who are looking for a quick property sale are likely to have to set the price of their home at a considerably lower level.

Compared to April 2010 house prices show a 3.7 per cent decline – the biggest annual fall since October 2009 (-4.7 per cent).

Martin Ellis, housing economist, said: “Weak confidence amongst households, partly due to uncertainty over the economic outlook, is constraining housing demand and resulting in some downward movement in prices.

“Signs of a modest tightening in housing market conditions, a relatively low burden of servicing mortgage debt and an increase in the number of people in employment are all likely to be providing support for house prices, curbing the pace of decline.  There are signs that house sales are stabilising albeit at a level lower than the historical average.” 

Competition for new places in the city will also continue to stay high as low levels of new stock come onto the sales market, it continued. As for lettings, W A Ellis’s average rent has jumped by 20 per cent since 2010 because of the popularity of living in London.

Partner at W A Ellis, Simon Godson, suggested that current stock levels will become more typical in future, arguing that there did not seem to be any short-term lack of supply for property buyers.

He concluded: “Of course, as demand increases, so do prices. The last five deals that we have agreed were all above the guide price, with an average excess of almost £90,000 being achieved. All five deals had multiple interested parties bidding against each other.”

First Direct surveyed 1924 UK adults and found that 58 per cent of couples are keeping their financial distance from each other when they buy their house.

Over half (58 per cent) did not set up a joint account despite uniting in living arrangements, while a further 21 per cent only set up a joint account for bills, keeping their existing separate current account for their own spending.

Richard Brown, senior savings product manager at First Direct, said: “There is less pressure for moving in to be a lifelong commitment so couples are remaining more independent with their finances when they do.

“But while couples may feel that there is no longer any need to pay for everything jointly and that a measure of financial independence from each other is healthy, it would still benefit them to pool their savings as the larger their pot, the higher the interest rates on offer.”

The average buyer does not expect to be able to afford their first home until they are 38-years-old, the findings revealed. Meanwhile, London which has the highest house prices in the country has the highest expected first-time buyer age at 43-years-old.

As a result of fewer first-time buyers getting their foot on the property ladder, those looking to sell property fast may consider alternative means for selling.

Clare Francis, mortgage spokesperson at moneysupermarket.com, said: “It’s easy to see why nearly a third of non-home owners do not intend to step foot on the property ladder. House prices may have fallen in many areas but they are still high. This coupled with the need for such a high cash deposit is pushing many people out of the market.”

It means that the company had profits of £47.3 million, arising from a pick-up in property buyers. The company is currently in talks with the Varde hedge fund over the conversion of £359 million debt into equity. Terms and conditions of the restructuring are still not agreed, though the deal is expected to be completed in early summer.

Crest’s chief executive Stephen Stone said that housing completions were lower at 1,609, driven by fewer affordable units being made available to people looking to downsize after a quick home sale.

He continued: “While the business will continue to face challenges in the short-term as the housing market recovers from the difficulties it has faced over the last few years, in the longer-term UK housing market fundamentals look strong.”

The statistics show an increase of 37 per cent in the number of people trying to sell their house who have slashed their asking price at least once. Meanwhile, the average price reduction now stands at £18,970, nearly £500 higher than three months ago and more than £2,500 higher than last summer.

The research found that house prices across Britain continued to fall slightly in April as sellers put their homes on the market, but demand from property buyers stayed the same.

Michael Newey, RICS housing spokesman, said: “The return of sellers to the market is positive, but activity still remains subdued and it is difficult to see it picking up materially over the coming months.

“Although there are signs that some lenders may be reducing their grip on purse strings, in particular with mortgages aimed at first-time buyers, there is still a long way to go before lending levels increase enough to have any real impact.”

Studies follow official figures, published yesterday, that show how inflation jumped to 4.5 per cent in April. This was effectively the highest figure recorded since October 2008, doubling the government’s target of two per cent.

As well as this, homeowners could be impacted by interest rate rises, affecting their monthly mortgage payments unless they are on a fixed rate. Property buyers feeling the pinch may feel the need to look for a more affordable place, while existing owners could be forced to sell their home fast and find an alternative living arrangement.

Kevin Mountford, the website’s head of banking, said: “Many families will feel like their finances are approaching breaking point.”

Construction News revealed that property buyers were causing a headache for the company, as well as the industry at large, though trading as a whole was in line with expectations and strong order books were being held in the construction and services divisions.

Kier explained to the publication that it was selling homes from a number of sites that promise a more fruitful second half to the year, while the firm said it believes it will convert 500 unit sales during this current financial year.

However, with sales coming from land bought at historically-high prices, margins still proved to be small and it asserted that it will reduce cash investment in its homes division through the development of existing land bank of homes for sale.

Brian Berry, the director of external affairs at the FM, explained that construction sector is now experiencing its fourth year of falling workloads with “little hope of recovery in the immediate future”, giving property buyers less hope of affordable homes or office spaces.

Additionally, he flagged up how house building continued to be at an all-time low, giving fewer alternative living options to people wanting to sell their home fast. In 2010, 102,000 new homes were built – fewer than half the number required to meet demand from household growth.

Mr Berry concluded: “The government needs to recognise that every £1 spent on construction generates £2.84 in total economic activity. It’s a false economy not to invest in our future and create the conditions for growth because without a vibrant construction industry the UK won’t have the infrastructure that it needs to compete in a global economy.”

Research from price comparison site moneysupermarket.com, has found that the average Brit now doesn’t join the UK property ladder until the age of 38, with those in London waiting until they hit 43 before they become property buyers for the first time.

In further bad news to homeowners who are hoping to sell homes fast, the survey also found that just five per cent of would-be first time buyers currently have a deposit saved to help them on their way. For those who recognise their property-owning dreams may be a way off, a substantial 19 per cent plan to rent until they have saved enough for a deposit.

Clare Francis, mortgage spokesperson at moneysupermarket.com, said: “The housing market has been hugely affected by the credit crunch and economic downturn, and first time buyers have been hit the hardest. It’s easy to see why nearly a third of non-home owners do not intend to step foot on the property ladder.

“House prices may have fallen in many areas but they are still high. This coupled with the need for such a high cash deposit is pushing many people out of the market.”

The company announced a rise in full-year profits; pre-tax earnings for the year to the end of March were recorded at £1.23 billion, up by nearly 15 per cent on the £1.07 billion registered in the previous tax year.

Land Securities went on to explain that returns on its property investments rose by 17 per cent during the year, as rental values jumped by five per cent. It conceded that the market was still recovering, yet London still presented “strong growth prospects”.

Chief executive Francis Salway said: “We are developing schemes [in the city] to meet the anticipated under-supply of new office space, which may be even more acute than originally forecast.”

Knight Frank head of student property James Pullan said: “There have been record applications for university places in the UK this year and, once again, students will find there is an undersupply of student accommodation to meet their needs. The student accommodation sector is now recognised as forming a critical component of a balanced investment portfolio.”

Indeed, total returns for the industry equalled 14.65 per cent – much higher than the 8.41 per cent registered in London. Meanwhile, Kingston, Brighton, Durham and Edinburgh were listed as the top places to make money from a rental property.

The research was released last month as the HBF launched its Wales election manifesto, explaining that ministers “desperately need to wake up” to the housing crisis in the country.

It explained in detail how many things were affecting the local housing market, which are “becoming ever more apparent”. These include the fact that 100,000 families are on housing waiting lists, while younger property buyers are unable to invest in a home and are delaying starting a family as a result. Meanwhile, first-time buyers require an average deposit of around £30,000.

HBF executive chairman Stewart Baseley said: “Wales has a desperate and growing housing crisis that just has to be addressed. The social and economic implications dictate that the new assembly government’s AMs must address the barriers to delivery as a matter of urgency.”

The Centre for Economics and Business Research (Cebr) said house prices had risen by 6.4% during 2010, but it said the market recovery would stall this year, triggering price falls of 1.7%.

It said anaemic growth in disposable incomes and higher unemployment throughout 2011 would trigger house price falls, particularly in regions that were most vulnerable to public sector cuts.

But it said affordability for first-time buyers would reach an eight-year high as house price growth weakened and mortgage interest rates stayed at record low levels.

Mortgage lending is expected to remain low next year as demand is muted and households focus on paying down their debt and increasing their savings levels.

But house prices should begin to rise again in 2012 as banks relax their lending criteria further and consumer confidence recovers.

The group expects property prices to rise by 2.3% in 2012, followed by gains of 3.7% in 2013 and increases of 4.7% and 5.5% in 2014 and 2015 respectively.

Douglas McWilliams, chief executive of Cebr, said: “We expect house prices to grow tentatively over the coming years, given that household incomes are being squeezed and banks are still wary of lending. There is currently significant uncertainty in the market caused by the Government’s spending cuts and a choppy recovery, which has greatly impacted transaction levels.”

Shehan Mohamed, the report’s author and an economist at Cebr, said: “We expect to see household earning power suffer over the next year or so, due to higher inflation and weaker employment prospects as the economic recovery remains fragile.

“Lower consumer confidence throughout the year is expected to rein in demand for mortgages, which will average around 50,000 per month – still around 50% lower than pre-credit crunch levels.”

The Royal Institution of Chartered Surveyors said the number of transactions would remain flat at about 900,000 in 2011 amid continued constraints on the availability of mortgages.

It added that a lack of supply of new houses coming onto the market would prevent steeper falls in prices unless the government’s cuts in public spending had a greater impact on unemployment.

But it warned that prospective first-time buyers would face a prolonged period of being frozen out of the market as a result of tough new conditions for obtaining home loans introduced by lenders since the onset of the financial crisis three and a half years ago. The RICS said the whole basis around which mortgages were advanced had “materially changed”. In its predictions for 2011, the RICS added: “For first-time buyers squeezed out of the owner-occupier market [by the requirement for a substantial deposit to access mortgage finance] it would be nice to be able to provide some reassurance that the current circumstances are likely to prove no more than a temporary phenomenon.

“However, there appears little reason at this stage to believe that a more ‘normal’ set of market conditions will re-emerge any time soon.” Even if economic growth was weaker than anticipated next year, the RICS could not see house prices falling by more than 5%.

“The lack of supply in the market is likely to prevent significant house price declines in 2011,” said Simon Rubinsohn, RICS chief economist. “The narrowing gap between supply and demand will see the gentle downward trend in prices currently taking place at least partly reversed as the year wears on. Transaction levels will remain flat as mortgage lending remains subdued for another year”.

There were 77,000 residential properties sold for more than £40,000 in the UK in November, according to HM Revenue and Customs (HMRC).

This was down from a revised figure of 80,000 the previous month and some 6,000 fewer sales than in the same month a year earlier.

A lack of demand from first-time buyers has pushed down sales and prices.

The figure is down 1% from £12.1bn in August and 7% from September 2009, £12.9bn.

Gross lending in Q3 2010 was an estimated £37.4bn, a 9% increase from Q2 and down 4% from Q3 2009.

Michael Coogan, director-general of the CML, says lending volumes do not seem likely to increase substantially towards the end of the year.

He says: “Funding pressures on lenders remain, and the practical implications of government and public spending cuts are beginning to emerge, with a resulting impact on consumer confidence. Despite the pressures on government finances, today’s comprehensive spending review is no time to make further cuts in state support for borrowers in difficulty.”

“A concerted effort by borrowers, lenders, the government and money advice agencies has helped to keep mortgage arrears and possessions in check during the current economic downturn. These support measures help contain the wider costs of homelessness, and deliver wider benefits to the government. Now is not the time to weaken the existing safety net.”

Brian Murphy, head of lending at independent mortgage broker, Mortgage Advice Bureau, says the September figures are a shocker. He say