The housing market has got off to a positive start in 2018, with the average house price of newly marketed properties, rising by 0.8% (£2,414) to £300,001.Rightmove (which tracks 90% of the UK property market) have seen ‘record’ levels of house-hunting activity and demand for housing remains strong.
Although historically newly marketed property prices have always been buoyant at the beginning of a New Year, they are more optimistic than the comparable period in 2017, showing signs that the year ahead will remain strong.
First time buyers are at an 11-year high, with the abolished stamp duty for properties below £300,000 attributed to this hike.
With interest rates still highly competitive, now is the time to talk to a specialist mortgage advisor to discuss your requirements and options available.
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Your home may be repossessed if you do not keep up repayments on your mortgage