Are you looking to get on the property ladder?

News Flash… Property Prices reach a record high!

As of 21/03/22 Rightmove reported that the average British home worth is now a record breaking £354,564!

That’s an annual price growth of 10.4% in March!

We are in the largest supply / demand mismatch ever!

Rightmove’s house price index shows the average asking price grew by 1.7% month-on-month, of £5,760 to stand at it’s mighty price of £354,564…and the annual growth rate of 10.4% is at it’s highest level in nearly 8 years.

How have we got to this point?

Simple…not enough homes on the market to cover the demand.  Rightmove confirmed that there are pretty much twice as many buyers as sellers, and as we enter what is notoriously known as the highly popular spring selling season, we find ourselves in the biggest mismatch of supply and demand.

With the war in Ukraine Rightmove did state that it is to early to predict the long-term economic impact on the property market.

If you are stuck in renting but you are planning on trying to get a mortgage at some point then we highly recommend you read the next article:  If you are stuck in renting but planning on getting a mortgage READ THIS

Article written:  22/03/22 please note that all facts and figures like everything change with the times.  Here at MTGE We provide free impartial advice for all your mortgage and protection needs.

Remember if you cannot make your mortgage repayments you are sadly always at risk of losing your home and being reposed.  Please always seek professional advice

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