Property prices have risen by 35% since January and are 50% higher than January 2008.

There are several factors at work, the scrapping of HIP’s, recovering property prices and worries about capital gains tax on the sale of investment properties.

The East of England although having the largest rise in average prices in May, is now showing a record fall in prices in June (down 0.5%). Wales saw the largest rise (+0.7%) with prices on average of £171,772.

However there is a real risk of a double dip fall in house prices, due in part to a lack of mortgage finance, the rise in capital gains tax (CGT) expected at the next budget and the possibility that mortgage interest rates are set to increase, all of which could send property prices tumbling.

There is uncertainty among experts with some saying now is not the time to put your house on the market as prices are likely to slump by the end of this year and others advising selling now before a slump happens. With demand in the market pushing up prices property sellers really have nothing to lose and if the doomsayers are right and property prices do drop in the autumn you can always take your property off the market and wait for prices to improve.

Times are also getting tougher for those who rent their homes as rents have been soaring and competition for flats and houses is fierce as smaller land lords with only one or two properties to let are selling out of the letting market spurred on by the threat of the hike in Capital Gains Tax, with a suggested new rate of 50% rising from the existing 18%.

As from this date homeowners looking to market their property are no longer required to have a Home Information Pack (HIP). This is good news and a much needed change at a time when the property sector is attempting to recover.

Homeowners will still need to order an energy performance certificate (ECP) for their property before marketing activities can begin, as the EPC is a product of EU legislation.

The coalition goverment is likely to maintain the requirement to have an EPC when marketing property as this document is principally concerned with assessing a property's environmental and energy performance. Where necessary, it makes suggestions for improving such performance. Such a document would seem to fit with this governments' 'green' or 'environment' policies which are aimed at encouraging a more environmentally friendly or 'greener' society.

The Bank of England’s Monetary Policy Committee (MPC) has voted to hold the base rate at 0.5% for the fourteenth consecutive month.

The decision comes as the Lib Dems and Conservatives continue negotiations to form the next government after the General Election resulted in a hung parliament.

Both parties have claimed that bringing stability to the British economy will be at the heart of any deal they make.

It might be thought that having a hung parliament is a contributing factor to the decision to hold interest rates. However the MPC decission is a reflection of the fundamental weakness at the heart of the British economy.

There is a continueing strong demand for property in West Suffolk and Cambridge with property being sold in some cases with in days of coming to market. This is good news for estate agents who are able to pick up thousands of pounds in commission with little effort on their part.

It is also good news for those property sellers who choose to sell their property through aprilhomes where they have a fixed price fee and no commission to lose.

Commission requested by two Bury St Emunds based estate agents 2% = £5,000

aprilhomes does not charge a commission on selling your house preferring instead an up front fixed fee of £500 plus the cost of the Home Information Pack (HIP), if needed. With property selling in just a few weeks and sometimes within a few days it must be pretty annoying to find yourself paying out thousands of pounds in commission. If you are contemplating a sale please get in touch and save yourself hundreds, if not thousands, of pounds!

You can now find a profile page for April Homes.co.uk on Facebook. On our profile account you can navigate to access more information on any of the properties listed on this website. While you are there, why not become a fan of April Homes.co.uk!

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