Archive: Property prices to rise 3.3% a year
According to the Royal Institute of Chartered Surveyors, UK property prices will rise by an average of 3.3% a year for the next five years. This is despite concerns over the housing market following Brexit.
The report also found that market activity picked up again during August following five months of decline before and immediately after the Brexit vote. This was reported in September on the Yahoo website*.
What this means for home owners and home buyers
“It’s great news that the Royal Institute of Chartered Surveyors are predicting a positive housing market for the next five years. With uncertainty following Brexit, it always helps calm fears when respected organisations such as this one react reassuringly.
“We haven’t found any impact from customers or the market in general and have continued to have the same level of enquiries. So this report doesn’t come as a surprise to us.”
How Your Mortgage Expert can help
Adam Nanson continues
“The report also found that, much of the market growth would be due to the shortage of new homes. This is good news for those selling their homes as people are seemingly willing to pay above the odds to secure a property when choice is restricted. But the downside, is that those buying a new home may have less options available to them.
“If you’re looking to purchase a property in an area where there are high premiums and high demand it is more vital than ever that home movers and home buyers understand their budget prior to commencing their house hunt. This will help them look at appropriate properties that reflect their affordability.
“A Mortgage Broker such as Your Mortgage Expert, will review your circumstances and give you the most appropriate mortgage rate advice for your affordability. They will also help you secure an agreement in principle which is a useful thing to have prior to commencing negotiations.
“Your Mortgage Expert is whole of market and independent which means we know all the current deals and can make the most suitable recommendation for you based on your circumstances. Some of the deals may only be available through independent advisers.”
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The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.
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