01/10/2021
MORTGAGE MARKET UPDATE!
If you are looking to buy in the near future, in the process of buying or just simply interested in what's happening in the housing market world...
Welcome your weekly Mortgage Market Update!
This weekly update gives you all the current housing market news in one place so you don't have to.
So what has happened this week?
Here's the breakdown:
Annual house price growth eases from 11% to 10%
First time buyer?
It almost seems impossible to even think about getting a deposit together to put down on a property is unimaginable as the house prices continue to stunt. However, some positive news comes this week as we see a slight decrease in the amount that properties across the UK in the value of their growth. So if you are a first time buyer, I'd get looking!
Has the Stamp Duty Holiday actually left us paying more?
What has your opinion on the Stamp Duty Holiday been? For those that have moved over the past year and a bit, I bet this has seemed like a blessing, no need to factor in that extra £2,000/£3,000 into the budget. But some studies are now suggesting the recent stunt in house prices has meant that people haven't actually been saving THAT much money. For example in June 2020 the average cost of a home in the UK was set at £250,739. As it stands the average house price has increased to £270,973.
That's over £20,000! So has the holiday really been worth it? Other sources suggest that homeowners have saved over £3billion because of the stamp duty holiday!
What's your thoughts?💭
Let me know in the comments below!👇
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