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Guaranteed Rental | UK housing market recovery in 2014

An economics forecasting group has said that the recent rise in UK house prices is not a full recovery. they claim the recovery is down to a small number of cash-rich buyers. Mortgage supply and tough lending criteria is making it particularly difficult for first time buyers to enter the market.

So how did it turn out. Are we now starting to see the housing market recovery in 2014 that was predicted?

Most are now saying that while there is little or no change, realistically 2019 is the year we will see the prices back to the 2007 peak.

The confidence is still low, and movement is stale, most positives are never more than 3 month spurts, which is not the definition of recovery. So site tight as its here to remain a very slow recovery in the UK.

Mortgage supply and tough lending criteria is making it particularly difficult for first time buyers to enter the market. Due to the likeliness of a first time buyer purchasing a cheaper property, this will have significant implications for those looking to trade up, clogging up the market and limiting the number of property sales.”
The Halifax said “house prices rose by 0.8% in August compared with July – the second monthly rise in a row according to its figures. But the average interest rate on a deal for a borrower offering a 25% deposit rose from 5.68% to 5.72% in August.”… – Source

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