Recent research highlights a significant increase in sales growth over the last month across the UK residential market (RICS Residential Market Survey). There is a shortage of properties coming onto the market which has caused demand to not only remain steady, but rapidly increase. Looking ahead, experts predict that house prices will continue to shift in an upward direction alongside demand.
Since April 2015, the UK has experienced a sustained upturn in demand, with an increase in new buyer enquiries being evident amongst Inspired Homes developments. It is not just demand that is increasing. Data also shows that mortgage approvals are at an eighteen month high and up 12% compared to a year ago.
In the lettings market, tenant demand is booming, extending its track record of uninterrupted growth since December 2014, but showing a particular increase since January 2015. Rent expectations remain positive, with forecasts predicting an increase of 3% across the UK.
National house prices continue to rise at a fast pace, however, at Inspired Homes, we work tirelessly to deliver affordable apartments that do not compromise on quality. Our flats start at just £234,950, are fitted out with the highest quality appliances and interior design, as well as being within the commuter belt to London.
Overall, a stable government and improved investment opportunities bodes well for the market for the foreseeable future, with the market continuing to be increasingly active since the closing of the Summer holiday period.
To find out more about our homes, please call 0207 495 0523