Rentals may be affected after it was announced that house prices have continued to increase.

The Land Registry published figures yesterday (December 30th) that the average house price had increased by 0.9 per cent between October and November.

Property now costs approximately £161,554 it claimed - 0.3 per cent lower than last year.

According to Ray Boulger from mortgage broker John Charcol: "Particularly if prices continue to move up - which I think they will …there will be people who want to move, who couldn't move this year because they didn't have enough equity, but will be able to move next year."

This will force a drive in the market's activity, despite a lack of mortgage finance, he added.

It follows figures from the British Bankers Association, which found that lending for house purchase had increased between October and November.

Some £6.6 billion worth of house purchase loans had been approved in the penultimate month of the year - 208.7 per cent more than in 2008, it noted.

Written by Sarah FieldADNFCR-2002-ID-19535342-ADNFCR

Related posts:

  1. Average UK property prices ‘on the rise’
  2. Property prices ‘rise in September’
  3. 5% rise in house prices ‘expected in 2010′
  4. Property prices up ‘due to lack of supply’
  5. Annual house drop hits record low

Leave a Reply

You must be logged in to post a comment.

HOME