House prices up 5.8 per cent year-on-year

MoneyObserver

Commenting on the new figures, Nicholas Ayre, managing director of homebuying agency Home Fusion, says that buyers are beginning to feel more positive: ‘In the past they may have just sat on their hands and been reluctant to do anything, but now, with the macro view of the economy looking a lot more positive, people are wanting to get that property they have been waiting for and not get lost in the action.

‘The Nationwide figures show us that headline house prices are tracking the economy in its recovery and upward trend, annual growth at 5.8 per cent, is just keeping ahead of inflation, which is a healthy line of growth and where we should expect it to be.

‘Although wages have continued to decline in real terms, we are seeing a steady spread of loan-to-value mortgages, so buyers do not seem to be maxing out on finance and are keeping within affordability boundaries.’

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House prices up £2,500 in a month as momentum is building

IntroducerToday

Nicholas Ayre, managing director of homebuying agency Home Fusion, said: “What helps is cheap mortgage rates and the increasing willingness of lenders to lend. Now buyers are thinking that if they apply for a mortgage they are more likely to get it.

“Many buyers have delayed a move for years because of the dire economic situation but many have had enough of waiting and are ready to make a move, assuming they can find the right property.”

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Land Registry: Average house price hits £167,063

TheTelegraph

“As expected, property prices continue to rise across the country, with London leading the way. However, one does start to wonder whether pricing is accelerating away from affordability and whether we will reach a point where buyers are once again struggling to get on the property ladder.”

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London house prices

Radio-VoiceofRussiaUK

“My Russian clients love buying property here, I have international, global clients from China and all around the world and local clients too. London is a fantastic safe haven to put your money in. It has out-performed the Russian stock market. Mostly the investors I work with are in prime central London, you’re looking properties nothing less than £800,000 or in the millions.”

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Sellers ‘get what they want’ in crazy London property market

TheTelegraph

“With such limited volumes of properties coming up for sale, combined with high demand and a growing confidence in the market, asking prices are inevitably rising.

“Estate agents are not helping: they need instructions to stay in business and very often they will attempt to outbid each other to persuade the seller to instruct them, contributing to ever-higher asking prices. Some will have to reduce prices six weeks down the line when the promised lofty figure is not realised, but with supply so limited, in some cases the seller may will achieve that higher price.”

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How to get on the property ladder

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“House prices continue to rise so it is no surprise that first-time buyers are also having to pay more with prices 4.9% higher than in August last year.”

“But record low mortgage rates generally mean that affordability is not an issue – yet. However this is something that does need keeping an eye on and borrowers must ensure that they don’t overstretch themselves.”

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UK house prices surge to above 2008 levels

CityAM“Supply constraints are such that if Help to Buy really did take off then a housing bubble might be possible. If more flats and houses are not built, a significant spike in mortgage transactions could substantially push up house prices. But we are nowhere near that just yet. While the recovery in property prices in London continues apace, this is far from the case throughout the UK. It is also worth remembering that transaction levels remain very low compared with what they were at the height of the housing boom.

London continues to be a special case that almost needs its own house-price index, with no sign of a slowdown in price rises in the capital.”

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House prices top previous August 2008 peak

TheIndependent

“Supply constraints are such that if Help to Buy really did take off then a housing bubble might be possible. If more flats and houses are not built, a significant spike in mortgage transactions could substantially push up house prices. But we are nowhere near that just yet. While the recovery in property prices in London continues apace, this is far from the case throughout the UK. It is also worth remembering that transaction levels remain very low compared with what they were at the height of the housing boom.

“London continues to be a special case that almost needs its own house-price index, with no sign of a slowdown in price rises in the capital.”

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