Average house prices reaches record high
The UK now has an average house price of more than £200,000, according to new reports released this month.
Research from the Halifax saw house prices increase in June for the fourth consecutive month, with a growth of 1.7% when compared to figures from May 2015. There was also a significant jump in year on year figures, with price growth recorded at 9.6% in June, compared to just 8.6% in the previous month.
Since 2010, house prices per square metre have risen up to 18% across the UK per square metre, showcasing a jump from £1,719 to £2,033.
The continued increase has led to an average figure of £200,280 for a property in the UK, the highest price recorded in the history of Halifax reports. The growth is thought to be down to a low supply of homes available despite a rising number of new buyer enquiries.
What does Sequre say?
Sequre’s Managing Director, Graham Davidson, shares his thoughts on the record high house prices:
“Increasing house prices always reflect a positive market and these record levels will come as great news for buy to let investors, as the potential for capital growth rises every month. These figures do show a monthly increase that is slightly higher than average, but it is not uncommon to see house prices jump leading up to the summer months, as we know this is often a desirable time to buy.”
“The issue of supply and demand has been some cause for concern in the UK. With a new Conservative majority Government elected back in May promising to address the issue, this may actually prove easier said than done as most, if not all, UK housing is provided by private house builders who will need to be convinced that it is in the best interests of their shareholders to build more houses each year. This could mean that the supply and demand levels could take some time to level up and prices are likely to continue to grow at the steady rates seen over the last few years.”
Sequre source properties all over the UK. We specialise in negotiating discounts in bulk on a range of high quality, buy to let investments. Our team of experienced consultants can guide you through the buy to let process and can also recommend mortgage brokers for those who require a buy to let mortgage for their investment. We work with professional financial advisors who are extremely familiar with the mortgage market, meaning our investors can find the best possible deal for their investment needs. Whether you own just one property, or have a large portfolio, we can provide a bespoke, end-to-end service. To find out more, contact us on 0800 011 2277.