House price inflation continues upwards
Good News For The Economy
There is further good news today from official figures that show the economic recovery is continuing and with house prices heading upwards across the country as a whole. This is indeed good news for homeowners but of course many first time buyers are still struggling to get onto the housing ladder despite the Help To Buy scheme that has been brought forward. The scheme has been welcomed by many people as the shot in the arm that the property market needs but has been lambasted by others who are concerned that there simply isn’t enough houses for purchasers to move into.
Cheap Money Is Fuelling Property Market
The recent increases have been attributed to the cheap money that is available which has had a dramatic effect on the number of buyers looking. What worries many market watchers is that the house market is pushed up to levels that are not sustainable and that interest rates start to go up and the market then takes a hit. This has happened before and it will happen again. The market would appear to be going from strength to strength at the moment but many would say that it is being fuelled by the various schemes that have been put out there by the government and the Bank Of England. Once these schemes are withdrawn and interest rates start to go up as they will inevitably have to let’s hope the government ensure that there is not another collapse.