Housing Market Update

According to a Nationwide survey, UK house prices in October were on a year on year high for the first time in 19 months.

The average house cost £162,038. As many of you will be home owners this will be good news to see your asset increase in value.

The survey details this recent house price rise is likely to be due to the lack of properties on the market.

The View From Improve Your House

Improve Your House believes we are most likely in the 'eye of the storm' in the sense that if demand increases or supply decreases we will be back to stage one. Typically, over the course of the last 2 recessions the housing market has increased slightly after the fall and then dipped again.

We expect house prices to start recovering in the next 1 1/2 - 2 years.

Increasing Your House Value

If you have spare cash because of low interest rates on your mortgage then put it to good use. A conservatory, kitchen, bathroom, new bedroom design or attic conversion will all add value to your property.

You don't have to wait for your asset to increase in value.

Your View

Do you agree with our opinion?
Will the housing market take over a year to bounce back?
What have you used your spare money on? Would you recommend it to others?