House prices continue to rise #landlords

new build on the increaseHouse prices in the three months to November were up 7.7 per cent year-on-year, according to the latest house price index from Halifax.

The average price of a home in the UK hit £174,910 in November, after prices increased 1.1 per cent between October and November.

Prices have now risen for 10 consecutive months, although the average price is still 12 per cent below the August 2007 peak.

This is a good sign that the economy is showing evidence of recovery. There is no doubt that schemes such as New Buy, Funding for Lending and Help to Buy have played a part in this market progression, however, with the amount of new-build properties being on the increase, the dynamics driving demand may change in the coming months. The Bank of England have also announced the withdrawal of Funding for Lending (FLS) at the end of the year and some industry professionals have indicated that they expect this to result in an increase in the ‘deal’ rates offered by lenders for new mortgages.

About harveybowes
Mortgage Broker and founding Director of Harvey Bowes Limited. A mortgage broking practice with bases in Cardiff & Poole, UK. We take a fresh and positive approach to mortgage broking which pays dividends for both our clients and frankly, ourselves. The team at Harvey Bowes are expert advisors in all aspects of mortgages from residential to commercial and buy to let.

One Response to House prices continue to rise #landlords

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