House prices grow to a new record high!

House prices hit new high in June and are 30% higher than pre financial crisis in 2008

Average house price is going up by up 5.4% year on year, but Zoopla believes that the house prices will start to fall. The problem is low stock with the number of properties up for sale lower than it’s been around the same time 12 months ago.

Because of the large stamp duty savings brought in by stamp duty holiday, majority of buyers chose to buy a house instead of a flat which meant the demand for houses has become much stronger and is outstripping demands for flats. Will this trend change after September?

There is no doubt that housing market will continue to grow and for those that are still saving I am sure there will be a right time to buy soon. I am also hoping that the rental payments will one day count towards people’s credit rating and will make it little easier to secure affordable mortgage when the time is right.

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Information sourced & for full article please visit Property Reporter

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