Nationwide Building Society predicts UK house prices will continue to rise after Stamp Duty holiday ends 🚀

Lender says end of SDLT holiday will not slow growth but warned higher costs could make it harder for First-time Buyers to get on the property ladder 🆘: 

➡ Nationwide’s core forecast predicts prices will continue to edge higher over the next five years 💹
➡ Office for National Statistics last week showed house prices rose 10.2% in the year to March, the highest annual increase since the lead-up to the financial crisis in August 2007 📈
➡ While property purchases were down 38% in April compared with March, it was still the highest April since 2007 with 111,260 transactions 🤝
➡ Last month, 25% of home-movers said they were moving as a result of the pandemic 🚦
➡ Demand is underpinned by a “structural shift” in home-working with gardens outside of city centres 💻🌳
➡ 95% mortgages are making it easier for first-time buyers but they could be thwarted by lending caps of 4.5 times income 💰
➡ If prices continue to surge, this will have a strong impact 🛑

Read full article here: https://www.theguardian.com/business/2021/may/21/nationwide-predicts-uk-house-prices-will-continue-to-rise 

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cavendishexperts propertymarket propertynews firsttimebuyer Kalyeena Makortoff The Guardian 

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