Private Finance comments on ONS House Price Statistics for Small Areas
Chris Sykes, Mortgage Consultant at Private Finance, comments on the publication of the ONS House Price Statistics for Small Areas.
“The home-mover market has remained slow and sluggish over the course of 2019 as many await clarity further political certainty. However, news that property prices are easing across the UK could encourage these homeowners to make their next step upwards on the property ladder. The discount of London property prices has been well documented, however the latest data shows that property bargains are widespread across the country, with 40% of the UK witnessing a drop in prices.
“The combination of easing house prices and near record low mortgage rates means that the cost of owning a home is becoming increasingly affordable. While home-movers might be tempted to maintain their ‘wait and see’ approach in the face of this political uncertainty, they should also recognise that this uncertainty is also presenting value and opportunity across the housing market which isn’t guaranteed to be sustained in the long-term.”
Kindly shared by Private Finance