Reports suggest that the average price of Northampton homes rose over the last two years. As of 2014, home price even rose to as much as 14% in the past decade.
As of the final month of 2015, home prices got a 3.6 percent rise for the past year for the whole of Northamptonshire. Nationwide Building Society data reveals that the region had an average home price of £161,398 during that year. The whole of UK actually experienced a 0.8 percent increase in home price. However, the growth of house price may start to slow down within 2016 if an interest rate rise occurs.
Furthermore, gains in employment and wages are expected to boost the buyer market and mortgage costs are expected to only have gradual rise. If there is one major concern though, it would be that the construction activity will lag behind the growing demand, leading to home price hike and to the reduction of home affordability.
Overall, the whole of UK is expected to have a 3-6 percent home price rise for the remainder of 2016. – iSellProperties.co.uk
Image:Rose Law Group Reporter
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