After two years of near despair in the UK housing, mortgage, remortgage and loan markets, the increase in house prices for the last three months in a row hopefully
heralds an improvement of the finance market in general House prices rose by 1.6% between May and June of this year, and although it means that prices are 10.7% lower than they were a year ago, the fact that the increases are in three consecutive months does allow some hope of stability.
The increase has been partly due to shortness of supply. Many builders of new properties have either completely ceased building new properties or have very much cut back on the number of new houses they are building. The construction industry is at its lowest ebb since 1948 which is a lifetime ago.Another reason for a lack of properties for sale is because meny homeowners are staying put in their current properties for a variey of reasons such as fear of redundancy, fear of not obtaining a mortgage for a new propety, etc.The increase in property prices, and the greater availability of mortgages should give people the confidence to again apply for remortgages, loans, mortgages, etc., and as such hopefully will ive an ever so gemtle kick start to the ailing economy.
No comments:
Post a Comment