Doug Crawford, CEO of My Home Move, comments on today’s ONS house price index for June
“Today’s data adds to a number of recent indicators which suggest a settling of house prices across the UK; all be it with the national average hiding a varied regional picture, with London growth at less than half the rate of the East of England.
“On the whole this is all good news for first-time buyers and Generation Rent. Low base rates and increasing lender competition have helped bring mortgage rates down, and so when coupled with the settling prices, the confidence felt by 57% of aspiring first time buyers who believe they will be home owners within the next two years, is justified. Demand is strong for property across the country and we must meet it with sufficient supply to put a spring in the step of the market.”
Kindly shared by My Home Move