Prices are not property in the UK grow for the seventh month in a row

Property prices in the UK over the past three months to the end of August were 2.1% higher than in the previous quarter, the same growth recorded in July and June.

Data index, the Halifax, which reflected an annual core price for the three months through August showed that prices were higher by 5.4% than in the same months of last year, which is the highest pace of price growth since June 2010, when price growth was 6.3%. The pace of price growth also exceeded their July performance, which was at 4.6%. In monthly terms, prices rose 0.4% in August, showing growth for the seventh consecutive month, reaching the average price of a home £ £ 170231.

Activity in the property market in the UK backed an increase in the number of mortgage loans to buy houses. The number of transactions for the mortgage loans is may-July for 10% more than in the previous quarter.

An improving economy and low interest rates, supported by official government schemes such as “helptobuy” contributed to the increase in demand for housing in recent months. However, the economy shows a still modest economic growth and inflation rates outpace income growth, all of this is a significant obstacle for the market. In General, prices will slowly but surely continue growing in the remaining half of the year. The number of mortgages approved for house purchase increased 4% in July, reaching 60600. Впервыеколичествоодобренныхкредитовпревысиловеличину 60% of machinas 2008. Significantly increased the size of the LTV for new borrowers on the mortgage.

There has been a tendency to increase the number of objects coming onto the market. In the last 6 months the demand of the UK property market significantly exceeded supply, but there were reports of new construction projects. The increase in the number of new objects will make more available properties in different price range and will help to bring supply and demand into some kind of equilibrium as to contain price increases.

® Alice Morgan 09.09.2013

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