Buy To Let
250,000 new properties hit market
The credit scoring firm said the number of new properties listed was 3% higher than a year ago and the market had not been this active since 2010.
The North West saw the biggest surge in property prices, with a 16.57% increase in supply during the last 12 months.
However, many properties are increasingly out of reach for the general population, particularly in London where prices have continued to spiral.
The number of high end homes – valued at over £500,000 – being listed on the property market increased by 17%. In central London this figure was 18%, while in the Greater London area it was 25%.
At that same time the number of more affordable properties slumped in the capital. The number of homes worth between £100,000 and £250,000 declined by 44%, the survey found.
Less than 2,000 properties came onto the central London market in this price band, with an additional 1,500 available in the rest of the Greater London region.
Andy Wills, data director at Experian Consumer Information Services, said that borrowers were struggling to get onto the housing ladder due to rising prices.
“As the housing squeeze continues to impact first and second time buyers as well as growing families, putting yourself in good financial shape and having a strong credit score is vital to securing the mortgage you need.”
Related Posts
There are 0 Comment(s)
Everything you wanted to know about ISAs…but were afraid to ask
The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...
Your right to a refund if travel is affected by train strikes
There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...
Could you save money with a social broadband tariff?
Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
DIY investors: 10 common mistakes to avoid
For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.
Mortgage down-valuations: Tips to avoid pulling out of a house sale
Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?
Five tips for surviving a bear market mauling
The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...
Money Tips of the Week
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 300 High Holborn, London WC1V 7JH, Company.