Fundamental factors point to the attractiveness of the UK property market in the long term

The total value of issued mortgage loans in the residential sector of the UK property reached £18.5 billion in April 2016 , which is about 29% less than in March , when it was issued billion of loans to £26,2 , but 16% higher than in April a year earlier.

The decrease in the number of loans in April, should be linked to the boom, which was observed in the market of property in England and Wales in March, when many investors were in a hurry to make a deal until the 01 of April in order to avoid additional costs in the form of increased 3% Stamp duty.

In the next few months, most likely, the sector of “buy to let” would take a breather and the main borrowers on the mortgage market will be family, first time buying a house, the people who are changing their place of residence and those who have applied for refinancing. In General, economic indicators show that over the next few months will be a steady demand for housing, which will be fueled by a growing economy, rising wages and lower unemployment in the United Kingdom. Higher rates of Stamp duty will not affect the plans of those who first buys a house and plans of those who intend to change a house or apartment. After a very active first quarter, the market will take a little break and will return to its normal activity by the 3rd quarter of 2016. Fundamental factors continue to reflect the market attractiveness of the UK property in the long term. Mortgage rates are at historically low levels. Amid fast population growth and a simultaneous decline in unemployment, the pressure on the real estate market from buyers is even higher. Coupled with the total lack of objects for sale will have all conditions for price growth to 9% per annum over the next 5 years.

® Alice Morgan 18.05.2016 G.

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