The BCC (British Chamber of Commerce) expects the UK economy to pass its pre recession peak in 2014. It also says that the UK’s GDP is now set to grow by 2.7% in 2014, an upgrade from a previous prediction of 2.2%.
This is all good news for the economy and so to for the housing market. Indeed, households perception of the value of their homes has risen to a five year high according to the house price sentiment index.
The RICS Residential Market Survey says that the number of homes sold in the UK hit an almost four-year high last month as the housing market recovery continues to gather pace.
Britain’s property sector is enjoying its best market conditions for nearly years as the housing revival gathers pace, according to a report.
Property analyst Hometrack said a further 0.4 per cent hike in house prices between July and August, together with marked improvements across all key indicators, means the sector is now in its best shape since before the financial crisis.
The market shrugged off the traditional August downturn as house prices
Research by the RICS – Royal Institution of Chartered Surveyors, has indicated that activity in the housing market is increasing fastest in parts of the UK where previously house prices have been the most depressed.
They state that homebuyers are returning to the market in their highest numbers for four years with the greatest activity being in the West Midlands and the North East. Although every region saw an increase in house prices, the biggest rises occurred in London and the South East.
Prices rose higher in July than in any time since 2006 but in the West Midlands and the North
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Age of property can also be a problem as some drains during the 1960’s especially were built using pitch fibre drains which are quite brittle and easily crushed.
Tree roots can spread quite some distance laterally and just because there is
According to the latest figures from the Bank of England more mortgages are being approved than at any time in the past three and a half years.
In May 58,242 mortgages were approved up from 54,354 in April.
However, although the Bank of England figures show a significant improvement in the demand for flats and houses, the number of mortgage approvals is still less than half what it was 10 years ago.
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