Impending fall in house prices looms
The London School of Economics and the National Association of Estate Agents has warned of an impending fall in house prices.
Following the slowing of the housing market homeowners are looking at alternative options in a stagnant market place.
Choice Finance takes the stance that freeing up capital to enhance a current property or to get one’s finances in order is proving an attractive alternative to moving for many homeowners.
Matthew Pennell, managing director of Choice Finance, said: “Unlike previous recessions, the added stress tests that lenders are placing on people looking to obtain mortgages means the market is in a better position to handle any downturn or deal with any shocks.”
This comes as Hometrack’s latest price index revealed house prices rose by 5.1% in the first half of 2017, noting Birmingham as the city leading the way with a 7.8% increase.