So I have been researching into whether we should be buying a house or a flat. I have been looking at some of the newly built flats on the net, and some were very tempting.

A one bedroom, newly built studio flat, looked very spacious. It would have no problems accommodating just the three of us, and also the pricing was within our reach (around the 100k mark).

The securities that a flat offers, especially on higher floors,  is the main tempting factor. The down side is a possibility of having to live with noisy neighbours.

Another problem with flats is you don’t actually own the land that you live on. It is only leased to you for about 120 plus years. Plus you have to co-own that land below the flat with all your neighbours.

With a house, especially on a first buyer’s budget, means that we will have to except the fact that finding a spacious place will not be easy. This is going to narrow our options down to either  a 2 bedroom small house in maybe a good area, or a 3 bedroom in a not so good area.

If we went for 2 bedroom house, it will be ok short term since the little one is still sharing our room. The second  bedroom can be used as a storage area.

Long term, we will ideally need a third room for when he is older and need to sleep in his own room.

Currently, we are comfortable living rent free above my parents leased catering business. This at the moment allows us to save most of any income to put towards the mortgage.

Ideally I would like us to live here for a few more years just so we can save for a large deposit for the mortgage, but with recent talk of them growing tired due to many years of working, my parent could decide to sell the business any time, leaving us more or less homeless.

Finding that ideal house will no doubt that some time.

According to reports there has been 19 percent decline in new homes being built compared to this time last year. With further report of a 5 percent decline in new orders for constructions, it seem the shortage could cause prices to rise due to lack of properties available to meet demands.

It also seem that the government hasnt put in any measure to help stimulate the construction industry, as suggested in the pre-budget report.

James Thomas, Head of Residential Development and Investment at Jones Lang LaSalle, commented: “Whilst there is evidence to suggest the UK economy is in recovery mode there remain question marks about the depth and sustainability as well as how the public finances can be repaired, quite possibly under a new government.

“The recent pick up in house prices is based on fragile economic fundamentals such as a weak pound, which has driven overseas buyer demand, and a boost from the stock market recovery, both of which are unlikely to be as supportive during 2010.

“It is very probable the present recovery will stall next year with prices falling by seven per cent as the rate in the increase of new buyers to the market eases, while the low number of properties on the market bottoms out and starts to rise again.

“The overhang from 2010 is expected to make 2011 a difficult year but thereafter we can expect the potential for strong house price growth of six per cent per annum as an improving economy forces increased housing demand to come face to face with restricted supply.

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You can have many things thrown at you during your life time, some good, some bad. I like to look forward to the good and prepare the best i can for the bad. I am fast approaching mid-thirties with a wife and a newly born son helping me there. I have noticed that life moves pretty quickly if u don’t move with it, and as a laid back kinda person, i find that motivation can sometimes be bit of a chore in itself.

My solution, to concentrate on things that i really feel for and care about, and that my wife and my son. My needs are no long valid as they once did . To provide a stable and secure base for us to grow as a family is top priority for me from now on.

This means getting us a family home to start with. My journey begins now.

Google  is in talks with British estate agents to launch an online property portal, which experts say could pose a serious threat to existing property websites and local newspapers.

The giant US internet search company launched a property portal in Australia last August through which estate agents list properties for free, showing both pictures taken from its Street View service and details on a map.

Estate agents and property websites expect Google to launch a similar portal in the UK in early 2010, attracting substantial advertising revenue.

Ed Mead, commercial director at Douglas & Gordon, the estate agency, said that it had spoken to Google about the plans. “It looks very simple. If it stays free, then Google has a massive winner on its hands as it will get the backing from estate agents currently paying for rival sites.”

Savills’ Jonathan Cunliffe said: “The interesting thing will be to see how and if they charge for content; that is where the battle between the portals might begin.”

Google refused to comment

Rightmove, the market leader, said that it had no knowledge of Google’s plans, but that a similar service as provided in the US and Australia did not necessarily represent a threat to its dominance among estate agents.

Early signs suggest that Australian estate agents have not abandoned advertising on existing websites.

Ed Williams, managing director of Rightmove, said: “We provide visibility of brand and logo. Agents are spending money on raising brand awareness, not getting more properties online.”

Rightmove charges estate agents an average of £325 per month.

Douglas McCabe of Enders Analysis said: “This sounds like a serious problem for Rightmove and others like them, depending on the model Google uses, but eventually it will affect everyone and newspapers will suffer another chapter in the story of consumers being more and more aware of alternatives to their classified advertising.”Local newspaper property advertising fell by as much as 65 per cent last year, a combination of the downturn in property and the rival service offered by property websites.

Another analyst said: “It would appear that the property websites have got a very difficult and unpleasant choice to make here as to whether they co-operate with Google or not.”

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With many redundancies still being made and a fair few businesses still going bankrupt, it seem like the market will take a long time to recover.

Other contributing factor will also include less mortgage deals available due to prices of borrowing still being too high for the average buyers.

Recent rise in property sales maybe have been down to seasonality, and forecast of sales for the on coming months doesnt look good.

Under new government proposals property owners are to have their mortgage protection strengthened.
Mortgage borrowers will be protected by the FSA (Financial Services Authority) if their home loan is sold on to a third party from the original lender.

The Treasury is determined to reform the system to give consumers better protection.

Christmas is drawing near and reports of a small window of opportunity opening for first time buyers.
The reports of the market seizing up due to people spending their money on yuletide necessity.

Traditionally, house market tends to fall from November and normally doesn’t recover until springtime.

There is also a report released by The British Bankers Association that an increase of 98 per cent mortgage approvals compared to this time last year.