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Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly,

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House Prices Continue on an Upward Trend

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UK house prices over the period between May and July this year were 3.6% higher than in the preceding three months, according to the latest House Price Index from Halifax. Prices in the three months to July were also 10.2% higher than in the same three months a year earlier, continuing the upward trend in the annual rate.

After recording a decline in June, monthly house prices grew by 1.4% in July. However, Halifax highlights that monthly movements can be volatile and the quarter on quarter change is a more reliable indicator of the underlying trend. Since last December there have been four monthly price increases and four price falls.

New buyer enquires continue to ease, a trend that started in November last year. On the other hand, the latest Halifax Housing Market Confidence Tracker indicates that sentiment towards selling is growing. Over half (57%) of those surveyed believe the next 12 months will be a good time to sell, compared to only 32% who feel it will be a bad time. This is the highest score of this measure since the survey’s inception in April 2011.

"While supply remains low, housing demand continues to be supported by a continuing economic recovery, growth in employment, improving consumer confidence and low mortgage rates,” commented Stephen Noakes, Mortgages Director. “However, earnings growth is still lagging behind consumer price inflation."

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Contact us today for legal advice on buying or selling your home. To make an online enquiry please click here or call us on 0141 775 0005.

Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly.

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