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House prices up 6.2% year-on-year in Q3!

House prices rose 6.2% year-on-year in the third quarter, according to the latest Halifax house price index.
Prices also rose 2.1% compared to the second quarter of 2013, leaving the average house price in the three months to September at £170,733. This figure is still 14% short of the August 2007 peak, despite eight consecutive months of house price inflation.
Halifax housing economist Martin Ellis says: “Housing demand has risen more quickly than supply in recent months, putting upward pressure on prices. Demand has increased against a background of low interest rates and higher consumer confidence.
“There are signs that supply is beginning to respond to the pick-up in demand, which if continued should help to constraint the upward pressure on prices.”

 

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Currently we are operating as normal, we have put a number of procedures in place to help mitigate the spread and limit the impact on the companies operations. Our staff are fully equipped to work remotely from home to answer your mortgage related questions. Your safety and well-being is of the utmost importance to us and so we are closely monitoring the situation with COVID-19 and the mortgage market. If you have any questions related to a new or existing mortgage then we are a mortgage broker that is happy to help answer them. Thankfully, none of the Search Mortgage Solutions team has been directly affected by COVID-19 and we have taken preventative measures to ensure this remains the case, which includes our staff working from home where necessary.
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