Moving up UK housing market over summer

home-moversThe UK housing market is appearing to have picked up over the summer after being idle in neutral for a while. The first time buyers and home movers are increasing to be stronger on comparing to the previous years.

Expert said: “The gross mortgage lending estimated was £20bn in August, which is 12% up by this year and further reserved growth is expected for the rest of the year, although affordability pressures are likely to limit gains for first time buyers and home movers. Buy to let house purchase and remortgage activity are recovering strongly. UK house prices are predicted to see increase over the coming months midst firm activity. Meanwhile, housing market activity will be supported by stronger earnings growth, high employment, and still low mortgage interest rates over the coming months. But, limited stock of properties for sale is putting forth the pressure on house prices.”

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