House prices rose by 2.4 per cent over the past quarter and by 5.7 per cent compared with the same quarter last year, according to the latest Halifax house price index. On a monthly basis, prices dipped slightly in June, extending the flat trend seen over the past few months.
A steady market, despite the ongoing economic and political turbulence, is the best we could have hoped for. The ongoing uncertainty with regard to Brexit continues, resulting in many people putting decisions to buy and sell on hold and a lack of property coming to market.
However, lenders remain keen to lend and subsequently mortgage rates are low, which is supporting property prices to an extent. Anyone in the market for a loan to purchase a home or looking to remortgage will find plenty of deals to tempt them, with five-year fixes still available from less than 2 per cent.
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