Property price rises in UK

homeUK property prices continued to grow in October. House price growth increases in further coming months, very low mortgage rates and a shortage of properties available for sale should help support price levels. The overall UK housing market picture as positive in light of enduring supply and demand fundamentals and no sign that the government will halt its long term support of the sector.

Mark Posniak, managing director of Octopus Property: “In a politically and economically uncertain time, both at home and overseas, the resilience of the UK property market will certainly be tested. Demand may well be down amid such uncertainty, but as the latest mortgage approvals statistics reveal, it’s by no means out. The low cost of borrowing, weak supply levels and a robust jobs market are preventing prices from falling more sharply. Confidence is likely to play an increasingly prominent role in the short to medium term.”

 

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