Some people in the industry are claiming that rumours of the housing sector coming out of an economic slump are just that -rumours. Reports have said that house priceshave risen for the past four months and more mortgages are being approved. But another set of data has come out, saying just the opposite. The report also goes on to claim that prices are still falling and have much, much further to fall still.

Lloyds TSBs new mortgage plan, is being dismissed as not being able to simulate the economy as once was first thought. This mortgage from Lloyds will allow first time buyer’s relative’s savings ount towards the loan deposit. The only catch is that if the loan hasnt fallen from 95% of the homes value to 90 in the first three yers Lloyds will hold onto the relatives money until that number is reached.

‘Experts’ are claiming it is much to soon to start talking about the sectors recovery and we could see yet more falling from house prices in the coming year. Just who do we believe in this situation here? Were being told one minute that the property market has started to recover and then shown a different set of results by someone else to discredit their claims. The sensible idea is to take all their ideas with an open mind. Listen out for whatever news is coming out, but dont take it as gospel seeing as no one is in agreement about everything. Were still in a recession, where jobs arent safe and prices are high, so were keeping the purse string tightly wrapped up. Its seems the sensible thing to do is see where the sector goes from here.

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