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‘Lifetime Homes, Lifetime Neighbourhoods’ is a scheme designed by the government to help older people get access to good quality housing. It could also result in all future homes being built to allow for modifications like wheelchair access and stairlifts, according to campaigners.

A recent Lincoln Financial Group survey pointed to the fact that retaining and living in one’s own home for the remaining part of their life remained a top priority for most of the old people on the cusp of retirement.

A financial expert mentioned: “A good quality of life is the important financial need for individuals who are already retired or are heading for retirement. Keeping (or having) their own home is the key!”

Of course, this is easier said than done. Property prices have considerably increased over the last decade, even after taking into account the present and prospective fall, adding to the woes of a fast ageing British population. However, with the UK government’s new apparent commitment to making sure that the people can live in their homes for longer, things could finally change. ‘Lifetime Homes, Lifetime Neighbourhoods’ is a step in the right direction.

House prices are witnessing a ‘sharp decline’, according to the latest BBC News report. The prices were down by 2.5 per cent in March - the biggest monthly decline registered since September 1992 - much sharper than several analysts had forecast and expected. Most property market commentators and analysts are now convinced that a ‘big slowdown’ is under way, the news report pointed out.

“We’re definitely witnessing an adjustment in the housing market,” stated the chief economist at the Halifax, Mr Martin Ellis who added: “I am rather surprised that we have witnessed a fall of quite this extent. But of course, we have been witnessing some falls in previous months as well, so it’s not really surprising that there has actually been a decline during the month of March.”

For the first three months of 2008, according to the data available, the prices have gone down by over 1 per cent (a UK-wide average of £191,556). Using this figure, the average house price has gone down by £4,912 in the previous month. The Halifax has also now revised its subsequent predictions for the year.

Current house prices are still 1.1 per cent higher than what they were a year ago. However, this is among the slowest annual growth rate registered for 12 years. In spite of the fall in prices, Housing Minister Caroline Flint does not agree with the observations that the property market was heading for a crash.

Talking to the BBC, Ms Flint stated it was not very fair to compare difficulties or problems in the current (housing) market with the peculiar problems it was facing in 1992, the last time house prices fell by such a significant margin.

She underlined the fact that now the market was underpinned by a steady economy and a healthy employment environment. However, she did add that the government would keep watching the situation and was also planning to discuss the scenario with the Council of Mortgage Lenders (CML) as well as other major industry representatives next week to find out if any action was required to help borrowers.

According to Prime Minister Gordon Brown, the UK was suffering from the impact of acute problems largely arising from the global credit crunch.

What things should a homebuyer in England, Wales and Northern Ireland keep in mind when dealing with an estate agent? Let’s try to find out. Let’s start with someone who has put an offer in on a flat. Is the estate agent liable to pass it on?

When an offer is put up for a property, the agent must pass it to the seller without delay and preferably in writing, except those that the seller has specifically informed the agent not to be passed on - for example., all those below a certain price. The estate agent need not give you details of other offers he has received.

Now, what to do if you’ve been informed that the seller has got a higher offer? Should you blindly believe this piece of information? Badly-handled offers are one of the common complaints passed on to the estate agents’ ombudsman, so you should be careful.

Those who try to increase the property price after accepting an offer can indeed cause heartbreak for a buyer. Even if it is questionable or unacceptable ethically, the fact is if you’re the vendor and are given an extra £20,000, you’re more likely to accept than refuse it. But could a higher offer just be a ruse to make you to part with more cash? It can be tough for the buyer to find out.

Buying a house after a painful split can be the first important stage in the ‘healing’ process. This could well be your retreat. As counselors point out, choosing a house which is easy to manage, both financially as well as practically, makes more sense.

There is no point buying a small cottage if you have got two or three children to look after. If you are moving to a flat, you will need space for them, so you should make sure there is a small park or garden nearby.

Familiarity can indeed be reassuring but you need not try to copy your ‘old family home’. Instead, make use of the opportunity to take a step ahead and move forward. Although all this won’t be easy, it can also be exciting since buying a new house after a split is akin to making a new start.

Once you are mentally prepared, start looking at a range of options in your price band. You may take a friend with you for a second opinion, if required. However, listen to your own instincts. Take into account your children’s opinions since they also need to feel settled. For example, you may want to buy a house in a village where you can get more value for your money, but your teenaged daughter may be adamant about staying put in town. She may have a point. You have to take various such factors into consideration.

Around 7,500 new eco-friendly homes have been proposed, creating a new town centre around the areas of Cricklewood and Brent Cross in North London.

According to media reports in leading publications, Brookfield Europe, Hammerson and Standard Life Investments plan to build thousands of new homes in conjunction with new schools, parks and transport facilities as part of an environmentally friendly ambience. The renowned firms have come together for the project and will jointly invest close to 4.5 billion pounds into it.

What makes these homes truly environmentally friendly are the efforts that have been made to save on precious natural resources. For example, these new homes will include waste pipes which take care of the entire household rubbish to be shifted to an onsite plant so that it can be recycled into energy.

The entire strategic plan is fully supported by the Barnet Council Leader, Mike Free, who considers it as a good strategic move towards creating a new residential town centre, embracing the highest quality with the best possible eco-standards.

Scotland has surpassed London with the higher annual price growth recorded, according to research done by Nationwide. The lender indicated the overall annual price growth level in Britain to be 2.2 per cent as compared to Scotland, reporting an astounding figure of 6.3 per cent in 2008. London, on the other hand, shows the annual house price growth level as 5.6 per cent.

According to Nationwide, Scottish prices, when compared to the capital, are quite low; standing at 84 per cent of the average rate in the UK. The Chief Economist, Fionnuala Earley, further states that while the mortgage scheme is widely in use by a majority of regions in the UK, it is still under cover in Scotland, owing to the relative buoyancy in the house prices of the country.

The first quarter of 2008, saw a decline of house prices in the UK by 1.7 per cent. Northern Ireland reported the lowest price growth following a period of very sharp rising. Recently, the Land Registry also identified the markets of England and Wales, and revealed that the average house prices in the two Countries remained unchanged during the month of February.

The credit crunch which has recently rocked the housing markets in the US and UK does not seem to have affected much on other key European mortgage markets, wherein the mortgage offers remain unchanged, as per the market surveyors. In all of these markets, mortgage deals are quite easy to secure with either small set-up fees or no fees at all. Borrowers with a poor credit record are allowed to obtain mortgage loans at the same rate as a borrower with good credit history, the only difference being that borrowers with poor credit records need to pay higher deposit fees.

Let us have a quick glance at some of the latest trends in the European property markets in terms of mortgage lending.

A majority of banks and building societies in France, for instance, have introduced mortgages offering loans up to 95 percent to 100 percent, while the property rates rise by 4 percent every year in France. On the other hand, the Spanish residential property market is witnessing a sharp decline in its rates on account of over supply of housing. While in Germany, the property rates have risen by about 2 percent.

As per the financial experts, the primary cause of growing concerns of British investors was that they always preferred investing into secure traditional areas to exploring newer markets.

When you are planning to sell your property, first try to work out both the maximum and realistic potential value. Apart from the location of your property, prevailing sentiments will also come into play when you put it up for sale.

There are several key factors to be kept in mind to get the best deal as a seller. Let’s know more about them:

• Go through credible web sites to know about the current trends in the property market. The Internet is your best resource for independent research.
• Read local property papers; visit local agents to know about the asking price for similar properties up for sale on the same street.
• The property market, cyclical in nature, happens to slow down during late summer and so also over Christmas and New Year. It is generally believed the best time for a sale is during spring and autumn.

The golden rule is selling a property while the market is hot or buoyant. If you do so, it’s much more likely to attract the desired asking price.

The reputed economic research firm, Global Insights, is expecting house prices in the UK to fall by up to 5 per cent over 2008 & 2009 largely owing to the escalation of the credit crunch.

According to estate agents, lenders and other market participants, it can be misleading to regard the UK housing market as homogeneous. “Pricing still largely depends on where you’re based and what type of property you possess,” stated chief executive of the National Association of Estate Agents, Peter Bolton King.

To elaborate, properties in London & the south are still getting their original asking price and many of them at the higher end of the spectrum (more than £3m) are even prompting ‘bidding wars’. According to a market analyst, there are a lot of individuals who are still keen on moving and a lot many who still wish to buy second homes.”

However, it is noticeable that European lenders are choosing to widen their mortgage offerings even while UK mortgage providers are increasingly displaying unwillingness to offer funding. As a result, it is becoming more and more expensive in the UK to buy a second home. On the other hand, it’s possible to get something cheaper overseas with an added benefit of value appreciation, hence the shift is being observed.