With a possible interest rate rise on the horizon, many people are keeping a close eye on the property market and waiting with baited breath as to what may happen next.
In the meantime however, the housing market is still showing signs of growth, with the average asking price of a house rising by £3,432 on average in October.
This significant increase is the largest seen in the same month in 2014 which measured 1.4%. The increase also continues the trend of a rise for every month of October since 2001.
The average home in England and Wales now stands at £313,435, more than a 1% rise on the previous month of September. This will be a concern for many estate agents as higher prices may halt many house sales completing before Christmas.
It is still great news for the housing market and there are still some fantastic deals to be had whether you’re a first time buyer or a homeowner. Now is a great time to take advantage of super low interest rates and fix your monthly cost for years to come.
It’s always important to get the right financial advice first however, a Mortgage Adviser can highlight the right type of mortgage for your circumstances and requirements. If you require any advice then don’t hesitate to get in touch, give us a call on 03333 44 85 11 or email firstname.lastname@example.org and we’ll be in touch shortly.