Rising growth in house prices

According to a latest mortgage traRISING GROWTH IN HOUSE PRICEScker, there has been a sharp increase in the percentage of who are expecting an interest rate rise in the next 12 months. Average of 68% is expecting property prices to be higher in 12 months’ time, with just 5% expecting them to be lower. But the fact is quite not surprising as the annual house price inflation is currently 9% (with average house price at £204,674), meanwhile the rise to base rate seem to have impact on house price optimism.

House prices are continuing to have risen and the primary pace of house price growth seem to be strong which helps to maintain the expectation that house prices will continue to rise with increase in the proportion of people expecting interest rate rises in 12 months. The factors that cause pressure on house price are the lack of second hand property sale in market and availability of low mortgage rates.

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