ARCHIVE: UK house prices to average £321,600 by 2020
The Centre for Economics and Business Research (CEBR) has predicted that the average UK house price is set to reach £321,600 by 2020. This is an increase of almost £60,000 from current averages. This was reported on the What Mortgage website on 26th October 2015*.
In fact CEBR currently predicts that house prices will continue to rise this year and through to 2017. With UK property prices reaching an average of £263,000 by the end of this year which is a record high.
What this means for home buyers and home movers
Adam Nanson from Your Mortgage Expert comments:
“The research from CEBR also states that the reasons for continued increase in house prices are the lack of available properties and that certain properties in certain regions have “skyrocketed”. Making it more difficult for people to move up the property ladder. It is also probably due to the market continuing to be buoyant.
How your Mortgage Expert can help
Adam Nanson continues:
“With the price of properties predicted to increase, 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.
To speak to Adam Nanson about your next mortgage, ring him now on 01722 322683 or complete a contact us form and let him know when he can call you back.
We don’t charge for an initial consultation, so by speaking with us, you won’t be under any obligation. To find out more about our services and how we operate, visit our about us section.
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cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation.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.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Source: What Mortgage Magazine 26th October 2015