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There is a wealth of excellent news throughout the media about the sustained growth of our key market: the UK property market. These new news roundups have caught us a bit by surprise as well and are showing the market level above the levels we have predicted late last year for the growth, so we must say that we are pleasantly surprised with the activity and direction of our core market.

The Halifax's report listing June's house price rise was described as 'a bit of a stunner' by Howard Archer, chief economist at IHS Global Insight.

According to The Guardian and their article published Wednesday 8th July 2015, one of the biggest UK property lenders Halifax has reported that the average UK house price has broken the £200,000 barrier in June 2015.1

 

“This is the fourth monthly rise in a row, according to the lender, and contributed to a quarterly rise in the three months to June of 3.3%. It resulted in an average UK property price of £200,280.

 

This is the first time the average has exceeded £200,000 since the Halifax started recording prices in 1983.

 

The sudden sharp June increase has resulted in a marked increase in the annual rate of inflation to 9.6% compared to 8.6% just a month earlier. It puts annual house growth back up to where it was in September 2014 and has caused some economists to rethink their forecasts.

 

“Our current forecast is for house prices to rise by 6% over 2015, but the Halifax data at least suggests that this may be too conservative a projection,” said Howard Archer, chief economist at IHS Global Insight, who described the lender’s latest report as “a bit of a stunner”. " 1

 

Another large UK newspaper The Independent has also reported on Saturday July 11th 2015 that Brittain now has more “property millionaires” than ever before. 2

 

“Research by property company Zoopla found that the number of British homeowners with a property worth £1 million or more now stands at 524,306. This has increased by 8.3 per cent in the last year as property prices rise.” 2

 

But what we have seen as one of the most important news articles in July and what leads us to believe in continuous growth in property prices in our core UK property market, is the news coming directly from RICS (Royal Institute of Chartered Surveyors). In their press release on Thursday 9th July 2015 they said:

 

“House price inflation reaches 11-month high and supply reaches data series low.

 

•           House price inflation rose to an 11-month high in June but supply shortfall continues to exert drag on activity

•           House sales across Scotland and the wider UK expected to increase in the next three months. Buyer demand increases in all parts of the UK except the South East

 

House price growth increased again in Scotland during June, pointing to renewed acceleration in house price inflation during the second half of the year, according to the latest RICS UK Residential Market Survey.

Demand for houses also edged upwards for the second successive month, with a net balance of 36% more chartered surveyors receiving new buyer enquiries in June." 3

 

As the basis of economics suggests, whenever there is a dis-balance between supply and demand in the favour of demand, wise property investors continue to benefit. We will continue our efforts and keep monitoring the markets, looking for distressed opportunities for purchase for ourselves and our clients.

 

 

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Read more current news stories here:         http://www.earnestknight.com/marketintelligence.html        

 

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Dear investor,

 

If after reading the above article you are one of those savvy investors that want to make the most of the historically safe and profitable UK property market but maybe because you are too busy at your own work and cannot find the time you think it’s not for you just now, do not worry:

This is where Earnest Knight Consulting excels and specializes in helping investors with thorough due diligence and selection process we implement before we commit to any deal.

This in turn helps our investors not only on the profitability side, but saves tremendous amounts of time and money in research for our clients and is one of the reasons why we are highly praised.

 

 

An informed investor is a successful investor!

For the current research results and the best choice of property investments, as selected by property buyers, in the UK market do not hesitate to contact your Earnest Knight Consultant today

 

Information is free and can only be of benefit to you

 

CALL:                        0208 6109 472

 

FREEPHONE:         0800 3689 317

 

EMAIL:                       enquiries@earnestknight.com

 

 

 

News article links referenced in this post:

 

1 THE GUARDIAN: “Average UK property price breaks £200,000 barrier, says Halifax”. Published Wednesday, 8th July 2015.

Read the full story here:

http://www.theguardian.com/money/2015/jul/08/average-uk-property-house-price-breaks-200000-halifax

 

 2 THE INDEPENDENT: “Britain has more 'property millionaires' than ever before”. Published Saturday, 11th July 2015.

Read the full story here:

http://www.independent.co.uk/news/uk/home-news/britain-has-more-property-millionaires-than-ever-before-10382680.html  

 

3 RICS: “Shortage of instructions in Scottish buyer and rental markets fuel higher prices”. Published Thursday, 9th July 2015.

Read the full story here:

http://www.rics.org/uk/news/news-insight/press-releases/shortage-of-instructions-in-scottish-buyer-and-rental-markets-fuel-higher-prices-/  

 

 

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