Hennessy Bowie Solicitors News
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,
House Prices Continue on an Upward Trend
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."
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.
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