Predicting how the UK property market will behave in the next 12 months isn’t easy. The last few years have seen numerous industry experts make bold claims about recovery that never really materialised. However now there are signs that the market has reached its lowest level and could be on the way up once more. Many areas have seen small price increases in 2011 with £5,000 being added to the value of the average property.

So if you’re a first time buyer is it a good time to go into the market? While there have been some increases prices are still less than they were at the same time a year ago. The forecast for the rest of 2011 and early 2012 varies on who you listen to. The overall consensus is prices will increase a little or stay flat. So if you’re thinking of investing in a home I’d say do it now. Prices are not likely to drop and there are some excellent deals available on new homes.

if you are entering the market for the very first time here are a couple of tips to help you out.

Mortgage and Other Expenses

This is the largest obstacle for many people and one reason why the marketplace is so flat right now. The days of lenders being ready to give 100% mortgages are gone. These days you need at least a 10% deposit if you want to get the best deals with the lowest interest rates. However more 95% deals have started to appear during the last few months in particular for people with excellent credit scores.

When you’re saving for your first house the deposit is just one of the numerous costs you will have to take into account. You must also save for stamp duty, solicitor’s and surveyor’s expenses and moving costs. Purchasing furniture and appliances for the home are other expenses to take into account. Finally you will have to plan for bills which will considerably larger than in shared accommodation or if you have been living with parents.

New or Used Home?

With the housing market still flat developers are desperate to sell new build houses. If you look around you’ll find some great deals on new build homes with many developers giving a variety of incentives to encourage people to purchase them. A new home will also be built to better standards and have a 10 year warranty. Whilst a used home may be cheaper to purchase it will be more expensive to run and look after.

Shared Ownership

The popularity of shared ownership plans has grown substantially in recent years. They enable people to purchase a share in a house that they normally would not be able to afford . A mortgage is paid on the portion of the property you own and rent to a housing association that owns the other share. You are able to increase the share of the home you own with time so that eventually you can own 100% of it. Joining a shared ownership program means that you don’t have to save for years to find a large deposit and you can get on the property ladder a lot sooner.

Another option is to consider buying a home with a few of your friends. Although this can seem like a good option it can be fraught with stumbling blocks for the unwary. Make sure that you use a solicitor to draw up legally binding contracts. Find new homes for sale in the UK on the WhatHouse? website.

There’s no doubt that the Uk property market has seen some hard times in recent years. The volume of houses which are being constructed has gone down even though in many places there is a huge shortage of new housing stock. The consequences of the depression are still being felt in many regions and home loan lending has yet to recover to anything like its previous levels. However there are a few indications of recovery in the property market with many experts now saying that it has reached its lowest point and prices are going to recover this year. This means that now’s the perfect time for you to buy property from a new house builder. Should you wish to move house this year there are a variety of reasons why you should look into purchasing a new house instead of a used one. To start with new build homes are built to better specifications than older houses. A brand new home which is built using modern building materials and techniques is a lot more energy efficient and for that reason much cheaper to run. Consequently you can save money and also the planet. Brand new homes come with insurance schemes along with a warranty to provide you with complete protection not to mention peace of mind. Buying a brand new house in a very sought after location with huge living spaces, fitted kitchens and bathrooms with all mod cons is obviously an exciting prospect for almost any home hunter. You can find some brilliant incentives from new home builders that make getting into your ideal home even easier. This year if you are searching to move home and are interested in brand new homes Essex, new homes Kent or new homes Hampshire check out the What House? website for all the latest information and news. You will find a massive choice of new homes from the country’s very best new home builders and top quality advice on every area of the home market.