House prices continue to rise despite Brexit fears
The future looks rosy for some homeowners across the country, as house prices skyrocket due to property shortages, a low numbers of new-builds and low interest rates. But what about those in less popular locations? Fortunately, property buying companies like National Homebuyers are keener than ever to help achieve fast sales for everyone.
It’s been over six months since the UK voted to leave the EU, and since that fateful day the media has been quick to paint a discouraging picture of the future. While fears regarding low wages and international trade deals continue to dominate the headlines, the housing market has begun to exhibit an element of resilience in the face of uncertain times ahead.
In December 2016 alone, house prices rose by 1.7% on average across the UK – culminating in a total growth of 6.5% for the entire year – approaching the all-time high enjoyed by homeowners prior to the financial crisis almost a decade ago according to property selling experts.
Certain counties such as Bedfordshire have enjoyed tremendous growth, with prices in Luton appreciating by an average of 19.4% versus the same time a year before. But of course, demand always varies by location and property condition.
In 2017, house value increases are predicted to slow to between 1 and 4% according to industry insiders – but many within the market disagree.
“It would seem positive news on house prices simply will not go away despite the efforts of some to make us accept that the market will weaken in the wake of EU referendum angst,” said Russell Quirk, CEO and founder of online property portal eMoov.
““As we have said time and again, the UK housing market is fundamentally robust, bulletproof even, and we do not subscribe to the view of the naysayers that we will see price reductions in 2017.”
With heated competition between potential homebuyers for cheaper properties thanks to a lack of availability, economists are urging the government to shift its focus towards developing more houses on cheaper land to prevent further inflation within the market – but with average rental prices reaching a staggering £750 a month outside of the capital, those looking to sell their homes are finding it harder and harder to find a buyer with the available savings.
Of course, with increasing prices comes a great opportunity for those looking to sell their homes fast as property buying companies offer a fast, efficient process that negates the need to follow the traditional route of estate agents. This allows those who need a fast house sale to move on with their lives.
Looking for competitive prices but unable to find a buyer? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.