UK housing market Property market Residential Mortgage UK housing market residential transactions
Marketing No Comments

Any fears of a property market collapse following the stamp duty holiday can now be put to bed, according to Marc von Grundherr, director of Benham and Reeves.

The Halifax House Price Index revealed that UK house prices rose by 1.7% in September, equating to an increase of £4,400 to the value of the average property.

This means that UK house prices are now at a record high of £267,500.

Get in touch with Mortgage Broker UK today to discuss your residential and Buy to Let Mortgage requirements

von Grundherr said: “The stamp duty holiday clock has now well and truly expired and those to have seen a last gasp saving would have entered the market many months ago in order to complete in time.

“Of course, such heightened levels of market activity may inevitably bring a slight cooling in the rate of house price growth, but that’s to be expected.”

Looking to the London market, von Grundherr explained that it has been waiting patiently in the shadows watching high levels of activity play out across the rest of the UK.

Read about the UK Housing Market via our Specialist Residential & Buy to Let Division

The higher price of property has long seen many London homebuyers disregard the importance of the stamp duty holiday, particularly since the price threshold was reduced, he revealed.

von Grundherr said: “However, we’ve seen a far more natural level of momentum building across the market and this looks set to snowball during the autumn and winter months.

“As a result, our money is on London to finish the year with the most impressive performance where house price growth is concerned.”

By Jake Carter

Source: Mortgage Introducer

Discover our Mortgage Broker services

Leave a Reply

Your email address will not be published. Required fields are marked *

The reCAPTCHA verification period has expired. Please reload the page.