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Fitch & Fitch is a Trading Style of Fitch Financial Ltd . Fitch Financial Ltd is an appointed representative of JLM Mortgage Services Ltd which is authorised and regulated by the Financial Conduct Authority (FCA) Registration Number 300629 .

 

The FCA do not regulate some forms of mortgages. The guidence and / or advice contained within this website is subject to the UK regulatory regime and is therefore primary targeted at consumers based in the UK. JLM Mortgages Services  Ltd registered in England No 4701803. 

 

A fee of up to 1.0% of the mortgage amount may be charged depending on individual circumstances. The exact fee charged will depend on the amount of work undertaken. A typical fee is £495.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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UK Housing Market Update

March 6, 2019

House prices fell by a marginal 0.1% in February, according to Nationwide, leaving them 0.4% above where they were this time last year. Our forecasts expect an average 1.5% growth in UK house prices in 2019, with the bulk of that growth likely coming in the second half of the year, assuming a Brexit deal is agreed. The lack of clarity around Brexit has subdued the housing market in recent months. At the time of writing, “Brexit day” is still scheduled to be 29th March, but Oxford Economics are predicting the most likely eventual outcome to be a deal with an extension of Article 50.

This Brexit-related uncertainty is reflected in the RICS survey, which continues to show sustained falls in new enquiries and instructions. Enquiries are now at their lowest level since 2008. Instructions have not fallen quite as far but are still in negative territory. Transaction numbers have fallen as a result, with UK transactions 4% lower in December than they were the previous year. London has fallen the most, down 8.5% during the year, while Yorkshire & the Humber fared the best, only falling 2.3% over the same period. Lifting the Brexit uncertainty may boost activity.

By contrast, the outlook for consumers has strengthened, with annual wage growth now at its highest since 2008, at 3.4% according to the ONS. With falling inflation, this gives a boost to spending power for many households. Employment is also up, currently at an all-time high of 76%. But this strength is yet to be fully reflected in the GfK consumer sentiment survey, which did rise by one point in February, but still sits firmly in negative territory, suggesting that caution in the housing market reflects broader consumer caution pending clarity over Brexit terms.

 

Source Savills https://www.savills.co.uk/research_articles/229130/278368-0#
 

 

 

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