Predicted 29% Rise in House Prices Over the Next Five Years
28 June 2017
According to recent data from Cebr (Centre for Economics and Business Research), predictions show that house prices can expect to see an increase of 29% over the next five years, with further predictions from IMLA (Intermediary Mortgage Lenders Association) advising that 2017 is expected to achieve the highest level of gross lending since before the financial crisis.
Although the financial uncertainty of Brexit caused concerns over the stability of the market, these recent statistics are showing that the future is looking bright for new borrowers and homeowners thanks to the increase of lower rate and longer term mortgage products available. The latest Hometrack UK Cities House Price Index data shows that city house prices have grown by 3.5% in Q1 2017, pushing the Index’s annual headline rate of growth to 6.4%. The main cities that have shown above average price increases are Newcastle, Glasgow, Edinburgh and Manchester, with Manchester staying in the top spot with an annual growth rate of 8.8%, an increase level not seen since mid-2005.
While this data shows positive growth in the sector, ensuring that new buyers and remortgagers have the most current facts to help with deciding on the best mortgage package for them is crucial. Qualified mortgage advisers can not only collate the best mortgage package for each individual consumer’s needs, but their extensive knowledge of the industry and current changes mean they are always looking to ensure clients are receiving the best possible deals. If you are looking to become a mortgage adviser, then completing your CeMAP qualification with Simply Academy will set you on the first step to a successful and rewarding career. For more information about the course options available to you, please do get in touch with a member of the student support team on 01279 874 430.