Recent studies have shown a "slow start" to the property market in 2012 particularly inWaleswith onlyLondonbucking the trend.  This is primarily due to the Olympics heightening the interest of overseas buyers wishing to move their wealth out of countries such asGreece,SpainandItalyand look for a "safe haven" inLondon.

Walesshowed the most resilience as residential property prices increased for six consecutive months up until November 2011 but unfortunately, at the start of 2012, they have now fallen by 1.3%.  Despite this, one major lender predicts that prices will rise over the next 12 months and that mortgage payments for new borrowers are now at their most affordable in 14 years.

AsWaleswas the only region where house prices had previously increased year on year with not evenLondonenjoying that growth, we need to see the opportunities that are available rather than just doom and gloom.

It is sad that there are a number of casualties to re-possession, but this does present excellent opportunities for first time buyers and shrewd investors as many properties will become available at bargain prices, much reduced from the true market value.

Our highly specialised Property Team has the Law Society CQS Accreditation so call us first and you will receive an excellent, friendly and personal service with no hidden costs or charges. 

Sally Roberts, Solicitor and Head of the Property Department, Watkins & Gunn