Following the release of the latest house price index from Halifax today the industry has been vocal in its reaction to the figures.
Halifax found that house prices had increased by 1.1% between February and March 2021 and are now 6.5% higher than in March 2020.
Ashley Thomas, director of mortgage broker Magni Finance, warned of potential pressures due to increasing unemployment in the coming months. Thomas said: “Confidence in the housing market has grown significantly in recent months.
“With the stamp duty holiday extension and lockdown restrictions easing, we have had a lot of clients wanting to go ahead and purchase a new property.
“House prices may well come under pressure if unemployment rises, but the current positivity in the market suggests that buyers are not overly concerned about this.
“Banks have eased their restrictions on loan-to-values, with a lot of lenders now offering 90% LTV products, whereas last year most banks stopped offering this.
“This is another sign that lenders are expecting the market to continue with the current upward trend.”
Click here to read the full story.