House price increase indicates possible market recovery

Property prices in the UK rose at a faster-than-anticipated rate in April, suggesting that the market was starting to pick up following a slowing in prices in the final quarter of 2014.

Data released by Halifax revealed an increase of just over 1.5% in April since March 2015, and the first three months of the year saw asking prices reach just under 9% more than the same time 12 months ago.

Howard Archer, and economist for HIS Global Insight, commented:

“We suspect that housing market activity is now turning around gradually after losing appreciable momentum from the early-2014 levels.”

However, the report from Halifax was also keen to reveal that the first three months of the year saw a slower rate of increases than the last three months of 2014. With rival lender Nationwide revealing data that showed April house prices increasing at a quicker rate since June 2014, both reports tie in with Bank of England information that the slow, yet consistent, increase in property prices may be an indication the market is growing in strength.

This follows the initial impact felt when increased regulation was enforced after the Mortgage https://www.beaconfinancialtraining.co.uk/wp-content/uploads/2020/06/cemap-online-and-classroom-training-uk.jpget Review was conducted in April 2014.

In order to complete a full affordability assessment with your customers and ascertain the level of borrowing they can obtain, you will first need to complete your CeMAP training and pass the end exam. You will then be qualified to recommend mortgage solutions based on the needs of your customers whilst complying with the current regulation.



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