UK house prices show signs of recuperation
The great news for the property market is that house prices in the UK are gathering pace. While the sector has been in a slump, caused by the worldwide recession, it now appears that the housing industry has eventually turned the corner with consistent growth being experienced across the country.
Property prices are climbing at the quickest rate since 2007 as outlined by industry specialists, Rightmove. The company's most recent index indicates that property prices in the UK augmented by 3.2 per cent - an increase of 6.1 % on 2008's figures. Property prices in the UK additionally observed a 0.4 % increase in December 09.
The rise in the market is good news for the industry, but it is unquestionably good news for the majority of homebuyers - as confidence increases in the sector so does the quantity of properties on the market and the potential for sales increases. If you are looking to move up the housing ladder, this may be an ideal time.
Obviously it is not possible to please all the people, all of the time, and the price hike may prove too much for some. According to Rightmove, the steep rise in property prices in the UK at the beginning of 2010 may be too much, too fast for some buyers.
Miles Shipside, commercial director of Rightmove, stated: "Sellers are starting to appear in greater numbers, but they must realise this market is more akin to the mortgage-rationed times of the 1970s and 1980s than to more recent times of relatively easy mortgage availability."
The Rightmove research reveals that property prices rose in February by a maximum of 7.5 per cent in East Anglia, with Greater London seeing a five per cent increase and a 3.6 per cent rise in south east England.
Understanding the reasons behind the ongoing increase in UK house prices is complex, especially considering that the rate of change is rapider than factors previously considered to be barriers that would hinder recuperation, such as unemployment (which is still high).
A recent survey from the Chartered Institute of Personnel Development (CIPD) and KPMG indicates that the employment situation is not set to improve. Many commentators have the opinion that the growth in the housing market is down to very specific changes in the industry itself and a rise in consumer confidence, and (at least for now) is relatively unaffected by employment.
In fact, the CIPD/KPMG report maintains a fairly bleak employment outlook for the future, with the public sector set to be hit the hardest. One in three public sector employers are currently contemplating employee reductions.
Further reductions are expected across the board, with expected job cuts of 6.2% effecting all aspects of the economy.
The economic recovery is still in early days, however the housing market is leading the way. With property prices in the UK on the rise, the future looks bright for homeowners and those looking to move up the housing ladder.
The property market in the UK has seen slight growth throughout the past year. Now, with further stability in the sector, many consumers are looking to buy with more confidence. Learn what a recent report reveals about the trend in property prices in the UK.
Property prices are climbing at the quickest rate since 2007 as outlined by industry specialists, Rightmove. The company's most recent index indicates that property prices in the UK augmented by 3.2 per cent - an increase of 6.1 % on 2008's figures. Property prices in the UK additionally observed a 0.4 % increase in December 09.
The rise in the market is good news for the industry, but it is unquestionably good news for the majority of homebuyers - as confidence increases in the sector so does the quantity of properties on the market and the potential for sales increases. If you are looking to move up the housing ladder, this may be an ideal time.
Obviously it is not possible to please all the people, all of the time, and the price hike may prove too much for some. According to Rightmove, the steep rise in property prices in the UK at the beginning of 2010 may be too much, too fast for some buyers.
Miles Shipside, commercial director of Rightmove, stated: "Sellers are starting to appear in greater numbers, but they must realise this market is more akin to the mortgage-rationed times of the 1970s and 1980s than to more recent times of relatively easy mortgage availability."
The Rightmove research reveals that property prices rose in February by a maximum of 7.5 per cent in East Anglia, with Greater London seeing a five per cent increase and a 3.6 per cent rise in south east England.
Understanding the reasons behind the ongoing increase in UK house prices is complex, especially considering that the rate of change is rapider than factors previously considered to be barriers that would hinder recuperation, such as unemployment (which is still high).
A recent survey from the Chartered Institute of Personnel Development (CIPD) and KPMG indicates that the employment situation is not set to improve. Many commentators have the opinion that the growth in the housing market is down to very specific changes in the industry itself and a rise in consumer confidence, and (at least for now) is relatively unaffected by employment.
In fact, the CIPD/KPMG report maintains a fairly bleak employment outlook for the future, with the public sector set to be hit the hardest. One in three public sector employers are currently contemplating employee reductions.
Further reductions are expected across the board, with expected job cuts of 6.2% effecting all aspects of the economy.
The economic recovery is still in early days, however the housing market is leading the way. With property prices in the UK on the rise, the future looks bright for homeowners and those looking to move up the housing ladder.
The property market in the UK has seen slight growth throughout the past year. Now, with further stability in the sector, many consumers are looking to buy with more confidence. Learn what a recent report reveals about the trend in property prices in the UK.
