Their research showed the average house price hit a new national high, the increase of £2,550 to £294,834 is the biggest September rise in 13 years. National average asking prices in September 2015 were £294,834 (+0.9%) and in August 2015 they were £292,284 (-0.8pc). However while the family-home market soared by about 1.2pc this month, prices in the first-time-buyer sector stalled, as home buyers struggled to afford prices which have already risen by around £10,000 in the last year.
Miles Shipside, of Rightmove, said: “High demand, lack of suitable supply, and increasingly stretched affordability are leading to some extremes in market forces in different sectors and parts of the country.” In the last six years, house building hit its lowest level since World War II and early indications already suggest next year’s housing completions are also likely to be slower. Meanwhile, efforts to improve the housing shortage are being hindered by a dearth of skilled industry workers and the current bureaucratic planning system, says a survey by Lloyds Bank.
If you are struggling to know what to do about your housing it can be helpful to talk through your options with experienced financial planners like Enable’s IFAs in Bishops Stortford.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
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