12 Nov

Demand for housing continues to rise in UK

Demand for housing continues to rise in UK

 

Estate agents with available property should have no problem finding a buyer, as demand for homes continues to rise throughout the UK, according to a recent report.

The research, released by Royal Institution of Chartered Surveyors (Rics), suggests that the government’s Help to Buy scheme is encouraging more new buyers into the property market.

This increase in demand has pushed house prices to inflate to their highest point in 11 years. The substantial rise, however, has not dissuaded buyers, with chartered surveyors reporting a selling average of 20.3 for October.

Simon Rubinsohn, Rics chief economist, believes that the current increase of buyers in the market should not come as too much of a surprise.

“A greater willingness by lenders to increase loan to values on mortgage products allied to the Help to Buy scheme has meant that more and more first time buyers are in a position to enter the market,” he explained.

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