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Rise Again

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Those with their fingers on the pulse should be aware that there has been a vague sense of optimism across the housing market in recent months.

This follows from a succession of reports that stated growths in house prices.House Rise

Nationwide, one of Britain’s biggest building societies, presented a house price index that indicated the average house price to have risen by 0.4% in May. Indeed, the month of May marked the fourth consecutive month in which house prices rose.

This was supported by similar claims from Halifax, who highlighted that house prices were 1.5% higher in March-May than the three months prior.

Collectively the news demonstrates confidence from sellers in a market that had formerly been marred by tension and economic disruption.  There has been a noted increase in the number of first-time buyers coming into the market too.

Some attribute the rise in part to the introduction of the Government’s Help-To-Buy scheme for first-time buyers and the early stages of their plan to make more mortgages available through its funding for lending scheme.

What does all this mean in the long run? We can’t say for sure. There is still apprehension amongst property investors and buyers. Even if statistically, the numbers say things are improving albeit gradually, it may need more than that for confidence to return to the housing market. Financial income still remains a grey area for many, forcing a restraint to join the housing market any time soon.

Recent years of rise and fall for the economic climate had understandably led to a sense of hesitancy about looking forward. Nevertheless, we’ll all be keeping our eyes open and seeing what lies ahead.

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