Blog UK House Prices Rise Again in February
The BBC are reporting the average house price in the UK is now over £205,000 with increases in February this year. This reflects the growth for the last year of 4.5%. This is taken from the Nationwide House price index published this week.
The full article on the BBC website is here: http://www.bbc.co.uk/news/business-39126047
Robert Gardner, chief economist for Nationwide, said: “The outlook is uncertain, but we, along with most other forecasters, expect the UK economy to slow through 2017 as heightened uncertainty weighs on business investment and hiring. Consumer spending, a key engine of growth in recent quarters, is also likely to be impacted by rising inflation in the months ahead as a result of the weaker pound."
He stated, “Nevertheless, in our view a small rise in house prices of around 2% is more likely than a decline over the course of 2017, since low borrowing costs and the dearth of homes on the market will continue to support prices."
You can find the full Nationwide report at: http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/2017/Feb_2017.pdf
If you are considering purchasing your first buy to let property or looking to expand your portfolio please feel free to contact our Lettings Director Adam Taylor who wil be happy to discuss any properties you are considering and give guidance on rental valuations.