Happy New Year To All First Time Buyers

As 2007 looms what are your property dreams and how likely are you to fulfill them?

2006 had a shaky start with predictions that the property market was running out of steam. However, not even two interest rate rises and market crash predictions could cause this to come true. The property market has recovered it seems, and is moving on in leaps and bounds, showing the best November in years. The traditionally quiet as a church mouse month of December has seen property flying off the proverbial shelves.

As we all know, the more people there are out there buying property, the better the market is and the more prices rise leaving the lesser spotted first time buyer in their dust. But it's Christmas time and to add to the unseasonably warm property market there are also thousands of city workers who have just been paid their December bonuses. According to a recent report that's around £8.8 million, of which it is estimated almost half will go into the property market. Buy-to-let investors, second homers and first time jobbers bonuses in hand will ensure a buoyant January through February. In the natural order of things the market should be quiet over this period, but spurred on by the trends of 2006 and the positive predictions for 2007 these cash rich city folk will be sure to push on with their property plans.

So it's crystal ball time again folks, lets see what the 'experts' say will happen in 2007, and whether there is any good news on the horizon for first time buyers and others looking to get onto or move on up the property ladder.

I'm afraid it's a little like the weather forecast in Arizona, sun, sun and more sun (if you're already on the property ladder that is, otherwise it's very overcast). Yes, although a few pundits predict just a 4.5% growth next year as the result of a slow down at the end of the year, the RICS and the Council of Mortgage Lenders, two of the most important crystal ball watchers out there, predict a 7% rise in the value of residential property next year. Wonderful for all you home owners (sunbathers). But, for the rest of you already struggling to get onto the property ladder it just means waving goodbye to the idea that a change in property prices would bring you closer to affording your property dreams.

So with a runaway 2006 and predictions for a popular 2007, market confidence at a high, and cash rich city folk on the loose, prices are guarantees to move further and further out of reach of many first time buyers. Not all doom and gloom though, for we Brits are an innovative lot and whilst the Government has been patting itself on the back for promising 35,000 new homes through their HomeBuy scheme over two years there are moves in the private sector to help the 100,000 plus of you each year who find that you cannot afford to buy.

Way out front is the growth of the co-buying 'sector' which has built from nothing a few years ago to an acceptable 'option' for first time buyers today. The trend towards first time buyers clubbing together to afford to their first property and benefit from multiplied buying budgets, shared costs and the ability to afford somewhere bigger, better and sooner than they could alone has spawned a number of organisations to follow in the footsteps of the UK's original 'co-buyer network' www.sharedspaces.co.uk .

With the New Year SharedSpaces will be launching it's new website offering information and advice to anyone who wishes to co-buy, co-invest or co-rent (flatshare). More information, more advice, simpler navigation, and new partnerships with other organisations that will be able to help you onto the property ladder.