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The Covid-19 pandemic has had an impact on many of us in different ways. For first-time buyers (FTBs) it appears that it has affected their ability to get on the property ladder.
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There is so much to remember and keep in mind when moving into your new home, it’s no wonder it’s known as being one of the most stressful times in anyone’s life.
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Data released by mortgage provider Halifax have revealed that UK property prices reached a record high last month, the largest monthly increase since 2016, and it is suggested that the increase has been driven by pent-up demand post-lockdown and the stamp duty holiday.
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The average monthly cost of renting a property in the UK is climbing, with average rents increasing by 2.1 per cent in August, compared to July, and up by 1.5 per cent year-on-year.
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The reopening of the housing market and government support in the form of the Stamp Duty holiday has brought a short-term rise in house prices and the demand for property. But as the UK enters a recession experts are predicting that the boom will not last, and house prices could fall.
