HomeOwners Alliance Provide Various Factors for Housing Market Results
The results of the last few months on the housing market seem to indicate that levels of confidence in the region of what the future will be for this country once it leaves the European Union are key to the different fluctuations and trends of the housing market that are occurring in different areas of the United Kingdom.
The HomeOwners Alliance have also released in their findings a number of other factors to consider why the results that they have compiled are so divisive in areas that voted fervently to leave as opposed to those that voted fervently to stay inside the European Union. Such things as the position of mortgaging in this country, which in areas of the country is at a greater height than ever before following the Bank of England’s decision to lower interest rates of mortgages to such a historically small level of 0.25 per cent. In turn, this therefore gives potential buyers greater confidence in taking out a mortgage at a time when repayment interest rates are at an all-time low.
On the other hand, as the HomeOwners Alliance indicates, these interest figures could easily rise up to greater heights once again if the country finds itself in inflation, which currently seems to be the trajectory that is taking place by the way. Similarly, there is of course extreme shoulder-shrugging on what the situation of the housing market will be tomorrow, let alone in the next few months. Whilst the disaster might not have occurred yet, we are still actually inside the European Union so confidence levels may change yet again once we leave.
Other factors such as the skilled workforce shortages as well as the number of EU citizens in this country who have an uneven future ahead of them will also need to be considered and will no doubt have some form of impact on the future of the housing market in the United Kingdom as a whole.
