6 May

UK housing market 'to experience growth'

UK housing market 'to experience growth'

There will be positive times ahead for the UK's housing market, according to one expert.

Commenting on the topic, editor at What Mortgage Ben Wilkie said the sector is moving into what is likely to be another sustained period of price growth.

However, the exact path of the industry will become much clearer in the wake of the general election, he noted.

Mr Wilkie added: "The longer the base rate stays low, then the more people will have confidence in doing it [accessing the housing market]."

However, people should be aware that the rate will go up at some point, the expert said.

This may not happen for 18 months or even five years, but it will rise eventually, he pointed out.

Last month, the Bank of England's Monetary Policy Committee opted to leave the base rate at 0.5 per cent, which is where is has stayed since the onset of the recession.

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