House price confidence falls to its lowest level in three years, which is good news for potential buyers…
House prices have been steadily increasing over the past few years, however growth appears to be slowing down. Latest figures show that house prices rose by just 3% year-on-year in October, which is down on the 3.7% recorded in September. This is the lowest annual growth rate in July 2013 when growth was 2.9%. The growth rate in October also marks the seventh consecutive month of slowing.
A Good Investment
House price growth is slowing, but there is no indication that prices are set to fall. The Halifax Housing Market Confidence tracker has shown that 57% of consumers expect prices to be higher in a year’s time. That means whether you are buying or selling, many believe that there is no need to worry about your investment. Record low mortgage rates also mean that it is a great time to buy, especially for first time buyers, with high loan-to-value mortgages at the highest for 8 years.
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