2017 Could Be A Timely Year To Invest

The Housing Market remained in healthy shape throughout 2016 with prices rising suggesting 2017 could be timely to invest in property.

Recent figures reported by the Halifax show that the housing market remained in healthy shape throughout 2016 with rising prices suggesting that 2017 could be a timely year to invest in a property. 

Quarterly growth was up 2.5% in the final quarter of the year, with an increase of 1.7% month-on-month in December, taking the annual growth to 6.5%. Halifax housing economist Martin Ellis highlighted various factors which are expected to reduce housing demand during 2017 but stated that “UK house prices should, however, continue to be supported by an ongoing shortage of property for sale, low levels of housebuilding, and exceptionally low interest rates.”

Jonathan Hopper, Managing Director of Garrington Property Finders, believes that the lack of supply will continue to drive prices upward in 2017. “With interest rates still at record lows, growing numbers of buyers are deciding that now is the time to act and rising levels of mortgage approvals hint at a surge in purchases to come,” he said. 

Sales and Marketing Director, Dianne Reynolds, said: “Many market experts are suggesting that a lack of availability will continue to be a driving force in maintaining an ongoing increase in house prices in 2017. Their forecast could prompt many first-time buyers to make a New Year resolution to get onto the property ladder. Similarly, many homeowners are likely to conclude that it’s time to upgrade their property in 2017.”

“Purchasers of various budgets are currently being served by Orion Homes with a range of spacious family houses for sale at Benton Park in Horbury and Leafield Gardens in Wrenthorpe as well as some three bedroom semi-detached properties at Mayfield Gardens in Wyke which represent outstanding starter homes with the assistance of an equity loan from the Help to Buy scheme. If you were weighing up a possible new home last year but ended up deferring your decision for a while longer, we currently have some very tempting options which could make 2017 the year for that exciting move.”

Further details on all Orion Homes developments are available at www.orionhomes.co.uk

Publish date: 09/02/2017