Latest figures (June 2013) from Nationwide show that house prices rose at their fastest annual pace in nearly three years, adding to signs that Britain’s economy is starting to pick up.
Hoffman Briggs has definitely noticed an improvement in the property market over the last couple of years, with our Swindon and Bristol offices extremely busy, in both the residential and commercial sector.
Nationwide said that house prices rose by 0.3 per cent in June, giving an annual rise of 1.9 per cent, which was expected – the biggest yearly increase since September 2010.
Local estate agents have also noticed a rise in the demand for property, while sellers are very often achieving the asking price at present, if not more. This is, no doubt, due to the fact that mortgages and borrowing in general have become more freely available, coupled with the fact that the cost of borrowing remains low.
Great news indeed!