Homeowners may have more to turn their outlook positive than the arrival of spring weather.  Property values may be seeing a real and sustained boost in the months ahead helping to revive lost equity that has cost many in terms of good remortgage deals.  The government has put into place several schemes which has helped to boost lending through cheap borrowing and has helped more hopeful buyers get into properties with lower deposit demands.

According to the recent info released from Hometrack, property prices have increased across the UK by 0.3% for April which followed a 0.7% increase in March.  April’s increase in the average house price marks the third successive month of increases.

Hometrack reported more new buyers are registering with estate agents.  In London there was a growth of new buyers registering at three times the rate than homes coming to the market over the past three months.  Homes are staying on the market for a shorter duration with the average in London now at 4.5 weeks.  This is half the national average and the quickest selling time frame recorded since 2007 prior to the recession.  The national average time frame for property sales is now at 9 weeks which is down from the previous 10 weeks recorded in January.

One of the government schemes, the Help to Buy scheme, is forecasted to bring more first time buyers to the market which is expected to assist the construction industry as it puts buyers into newly constructed homes.  The scheme assists buyers by offering interest free loans to assist in the deposit for a home purchase of up to £600,000.