Halifax warns fixed rate mortgage holders of housing market uncertainty
www.moneynews.co.uk > Mortgages > Halifax warns fixed rate mortgage holders of housing market uncertainty
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Halifax warns fixed rate mortgage holders of housing market uncertainty
Thu 7th Oct 2010
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According to Halifax, growth in earnings is likely to be "very modest" over the coming 12 months, while people are also expected to face tax rises in the near future.
The organisation said these factors will both be constraints on the housing market during this time, along with an increase in the number of homeowners putting their property up for sale.
However, Halifax housing economist Martin Ellis noted that interest rates are likely to remain "very low" for the foreseeable future.
This, he said, would "underpin the improved affordability position for homeowners".
Mr Ellis was speaking after figures from Halifax revealed that house prices in September 2010 were 2.6 per cent up on the amount recorded a year earlier, but 3.6 per cent down on the previous month.
This comes after Martin Gahbauer of Nationwide said the willingness of existing sellers to compromise on their asking price in order to sell their property more quickly will help to determine "where house prices go next".
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Related News : Halifax |
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