Some positive news for the mortgage industry today, as Nationwide’s latest housing figures have shown that house prices have increased by 0.2% within July.
Although this is a 0.4% fall from July 2010, the 0.2% rise seen within the last month is likely to be positive for the mortgage industry and the mortgage broker, potentially a trigger to spark a new wave of mortgage activity.Although sluggish demand for homes within the UK has occurred over the last 12 months with stability the key, property prices have remained stable by a lack of supply on the mortgage market. There has only been a gradual rise on the number of properties available for individuals, leaving the mortgage and property markets relatively stagnant.There has been a 0.3% increases the three month on three month measure of UK house prices, with house prices continuing to steadily rise after the previous 0.4% increase seen at the begging of the year. With the global economy once more looking frightening to many with impending crises within Europe and perhaps the USA, it can only be hoped rather than be assured that the housing market will continue to improve.However, slightly worrying news for the mortgage broker has seen that the volume of property transactions within the UK, remained at historically low levels in recent months, with only 204,000 housing transactions recorded between April and June in the lowest level seen since the second quarter of 2009.The Nationwide survey has also shown that the number of renters within the UK has also increased substantially within the last twelve months, with Britain turning more towards the European housing market with the option to rent now deemed more attractive to many. With this being the seventh consecutive annual decline in the number of owners within the UK, the trend is in part a reflection of stretched affordability, younger households finding owner occupancy less suitable for their needs and with more individuals moving towards higher education.For homeowners, suitable and competitive mortgage deals are available to a number of individuals on the mortgage market with a variety of needs and requirements. Despite homeowners falling and the mortgage broker struggling with the constant decline of UK homeowners, great deals can still be found.Some positive news for the mortgage industry today, as Nationwide’s latest housing figures have shown that house prices have increased by 0.2% within July. Although this is a 0.4% fall from July 2010, the 0.2% rise seen within the last month is likely to be positive for the mortgage industry and the mortgage broker, potentially a trigger to spark a new wave of mortgage activity.
Although sluggish demand for homes within the UK has occurred over the last 12 months with stability the key, property prices have remained stable by a lack of supply on the mortgage market. There has only been a gradual rise on the number of properties available for individuals, leaving the mortgage and property markets relatively stagnant.
There has been a 0.3% increases the three month on three month measure of UK house prices, with house prices continuing to steadily rise after the previous 0.4% increase seen at the begging of the year. With the global economy once more looking frightening to many with impending crises within Europe and perhaps the USA, it can only be hoped rather than be assured that the housing market will continue to improve.
However, slightly worrying news for the mortgage broker has seen that the volume of property transactions within the UK, remained at historically low levels in recent months, with only 204,000 housing transactions recorded between April and June in the lowest level seen since the second quarter of 2009.
The Nationwide survey has also shown that the number of renters within the UK has also increased substantially within the last twelve months, with Britain turning more towards the European housing market with the option to rent now deemed more attractive to many. With this being the seventh consecutive annual decline in the number of owners within the UK, the trend is in part a reflection of stretched affordability, younger households finding owner occupancy less suitable for their needs and with more individuals moving towards higher education.
For homeowners, suitable and competitive mortgage deals are available to a number of individuals on the mortgage market with a variety of needs and requirements. Despite homeowners falling and the mortgage broker struggling with the constant decline of UK homeowners, great deals can still be found.
