Right to Buy Mortgages in Huddersfield
14 June 2024
Get on the property ladder with Skipton Building Society’s 100% mortgage at Mortgage to Home.
2022 has been an unpredictable year for finances, including the housing market and house prices that have continued to rise exponentially.
As with the majority of other price increases in Britain, it is normal to wonder if there will be a house market crash in 2022.
Read on to find out when and if we think house prices will go down…
The cost of living crisis has been affecting households throughout the UK, and with fuel prices rocketing, and grocery shopping being more expensive than normal, the housing market has been affected at a similar rate.
According to Rightmove statistics, record prices were hit in June 2022 with the average house being listed and sold at £368,000.
Undoubtedly, the unaffordable prices of homes, alongside the cost of living crisis making it even harder for people to save money, is making homeowners wonder whether a housing market crash is underway.
The house prices within the UK are increasing at an astronomical rate, but why?
One of the main issues of the housing market right now is that there is too little supply to meet demand, meaning that when there are houses available – the owners have increased prices due to the lack of housing.
On top of that, the cost of living crisis is making it more difficult to be able to save up for a deposit as fuel prices have hit ultimate highs and priorities for day-to-day life don’t include savings for many households.
First-time buyers are having an extremely difficult time and those selling their homes are competing with the ever-rising inflation rates.
We can’t predict for certain what the future will hold, but a house market crash in 2022 is quite unlikely.
The prices of houses are beginning to steadily decrease as the rate of demand slows and people are beginning to have smaller house deposits.
The increasing rate of the cost of living and rising inflation could cause a slow in house-hunting, therefore, causing the house prices to drop more due to less demand, making housing more accessible for first-time buyers soon.
Although there is uncertainty in the housing market and it may seem like a steep hill to climb, we are here to help and guide you through times like this.
We understand how tough house-hunting can be, and the finances that go along with it, so feel free to drop us an email to matthew@mortgagetohome.com for any mortgage advice, or just a helping hand.
Get on the property ladder with Skipton Building Society’s 100% mortgage at Mortgage to Home.
Get on the property ladder with Skipton Building Society’s 100% mortgage at Mortgage to Home.
Get on the property ladder with just £5,000.
Low deposit mortgage, available from Mortgage to Home, perfect for first-time buyers…
Mortgage To Home is a trading style of Maven Money Ltd which is registered with the Data Protection Act 1998 registration No. ZB495682 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 987341 an Appointed Representative of TMG Direct Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number: 786245 and registered with the Data Protection Act 1998 Registration No: ZA178200.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
