Optimism at a new high in new housing market research

04 Feb 2012

After endless dour headlines on the state of the housing market optimism is on the rise according to new research.

According to mortgage lender Halifax, nearly a third of people believe house prices will increase in the next 12 months.

Martin Ellis, housing economist at Halifax, has recently been reported as saying that: "The modest improvement in consumer confidence in the outlook for house prices reflects the resilience of the UK housing market over recent months in the face of a weak economic recovery and the deterioration in the outlook for both the UK and global economies.

Looking forward, we currently expect broad stability in house prices in 2012.”

This comes after recent research from Halifax which found that mortgage payments for new borrowers have become their most affordable for 14 years.

However,  mortgage advisers are first to warn not to "become a mortgage moth” and get drawn in just by a mortgage lender’s headline rate.

You also need to factor in the costs of arranging a mortgage. Some lenders may offer lower charges so you need to work out if these offset the higher mortgage rate and subsequent monthly mortgage bill – or not.

Navigating a complex market of attractive mortgage deals and lending criteria can be somewhat overwhelming.  An independent financial adviser or whole of market mortgage adviser will help you to make the right decision according to your current personal and financial situation.

At Trethowans, we can recommend a professional adviser to help you do just that.