The Halifax has reported that house price growth has dropped to the slowest rate since 2013, however, prices are still up by 1.1% over the last year.
A levelling market is great news for both buyers and seller alike as it generally means more properties to buy and that can only be a good thing especially for those trying to juggle buying and selling.
Halifax Managing Director has stated "Underlying market indicators, including completed sales and mortgages approvals, continue to be broadly stable. Meanwhile for buyers, important affordability measures – such as wage growth and interest rates – still look favourable."
A healthy level housing market is a great opportunity. Still time to get moved before Christmas! Call your local Aldreds office now!
Sue works upstairs in our Head Office in Great Yarmouth. She looks after the client money for our large rental department making sure that rents are paid to landlords, contractors are paid and deposits are handled, stored and returned correctly.
UK finance has reported that mortgages to first time buyers were up 5.8% in July compared to July 2018. Overall mortgages mortgages completed in July were up 1.4% on the same month in 2018.
We had a very strong summer at Aldreds and it is interesting that the national statistics and figures back this up.
As we move in to the Autumn there is still time to get moved by Christmas! Get in touch with your local Aldreds office today!
After hinting that the responsibility for stamp duty may switch from buyers to seller it appears that the chancellor has quashed this suggestion.
In a tweet he said “More speculation about stamp duty this morning. To be clear, I never said to The Times I was planning to put it on sellers, and I wouldn’t support that. I know from the Ministry of Housing, Communities and Local Government that we need bold measures on housing - but this isn’t one of them.”.
Watch this space for more stamp duty updates, however, it now seems unlikely there will be much (if anything) changing this side of the budget.