House Prices are moving again

We are seeing a real move in house prices this spring, higher in London, Edinburgh and Aberdeen.

The Express picked up on this and people’s expectation that they will rise further and here we are quoted on the front page.

http://www.express.co.uk/news/property/394866/House-prices-to-rise-10-000-Biggest-increase-for-3-years

Here is the article: Almost three-quarters of homeowners expect values in their area to increase by an average of 4.5 per cent, according to a survey.

That would put an extra £10,152 on the average home worth £225,601, property experts say.

The good news comes as official figures showed higher than expected growth in the economy for the first three months of the year.

Mark Dyason, director at mortgage broker Edinburgh Mortgage Advice, said: “The results of this survey are yet more proof of the deep-seated appeal of bricks and mortar. There’s no doubt the property market is coming back to life. There’s a lot more confidence and urgency and news that the economy actually grew in the first three months of the year will put a further spring in people’s step.

“Instrumental to the recovery of the property market is the first-time buyer who has been buoyed by very competitive rates at ever higher loan-to-values.

“Properties that might have languished on the market for months and months last year are now being fought over.”

Both the numbers of people forecasting a house price increase by the end of the summer and the size of the anticipated rise are the highest since a quarterly survey of 4,000 owners began in 2009.

Lawrence Hall, of property search website Zoopla.co.uk which commissioned the research, said: “The housing market has seen a number of positive events in recent weeks including the Budget and growing confidence from homeowners is a significant step towards a recovery.

“With first-time buyer lending gradually increasing and mortgages becoming more readily available, there is real belief that the property market is starting to turn a corner and finally drag itself out of the hole since the financial crisis.” He said measures such as the Government’s £80billion Funding for Lending Scheme has helped fuel a surge in price.”