The warm summer across the UK has seen more people out and about looking for homes, pushing the prices in the UK property market ever higher, according to new reports.
It is normally the case that the summer will see house sales drop as people head off on holidays, but this has not been true this year.
According to findings from property analysts surveyed by Hometrack, the number of people in the market for a new house pushed prices 0.4 per cent higher in July and August to see them returning to levels not seen since before the financial crisis.
It added that the 1.8 per cent annual rise across the country was also the fastest rate of growth seen at any time since 2010, while the average time a property spends on the market has dropped to 8.1 weeks, the shortest time seen since 2007, before the problems blighted the sector.
A result of this has been that sellers who are far more confident about finding a buyer have been reducing their asking prices less often, keeping real prices higher.
Alexander Gosling, director of low-cost online estate agent Housesimple.co.uk, said: "It’s been an unexpectedly bumper summer for the property market. Soaring temperatures have certainly tempted more buyers out.
"But so has a welcome boost in buyer confidence thanks to Government schemes like Help To Buy and some very attractive mortgage rates from lenders keen to grab market share."
He said that the hope was that this confidence would continue throughout September and October.
No comments:
Post a Comment