According to the Office for National Statistics, April saw a slowdown in the house
price growth across most of the UK.
Dragonfly Property Finance chief executive Jonathan Samuels said:
“The fall of prices in London from the Olympian heights they were a year or two ago has placed significant downward pressure on the annual rate of inflation across the UK as a whole.”
He went on to say that the report underlines how changes in London house prices can skew the average of prices across the whole of the UK.
Samuels also said that although there had been a reduction in London prices, taking them below the UK’s average, he felt they would soon start to rise again. It has been just under a decade since there was last a decline.
From May, the market has improved. A lack of properties is placing sellers in a positive position, and beginning to push house prices up. Samuels added that figures released by Rightmove.co.uk the property website, showed a rise in house prices that looked unlikely to change with such a few properties on the market.
A combination of outstandingly attractive mortgage rates and growing jobs market has no doubt influenced the demand for properties, and increased activity in the mortgage market as people look to secure the best deal when buying their dream home.
As a qualified mortgage adviser who has gained their qualification, after their CeMAP training, you will be the first point of contact for those looking to buy a property and need to obtain a mortgage in order to do so.