House prices are on the rise but pain is set to follow, says property expert Jonathan Rolande
Property prices could increase
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I expect to see many parts of the country benefit from an increase in home values. Some areas could record growth of as much as five per cent.
Expect to see a rise in September, perhaps up to 0.5 per cent or £1,500 on the average home.
Rent growth will be lower too, as this is more affected by slowing wage increases.
I think mortgaged buyers will also benefit from the reduced Bank of England rate and the increasing competition between banks which is leading to some good deals.
House prices are predicted to rise, according to an expert
GETTYWith the general election behind us, the market has taken a new Government in its stride.
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Jonathan Rolande shares his expertise JONATHAN ROLANDEThis is still the honeymoon phase, there will be pain in the October Budget.
Inflation rose slightly in the latest figures but that’s not surprising given better weather and a recent interest rate cut, the first since 2020 and there is optimism that we’ll see another quarter per cent off within the coming months.
When the August holiday lull ends, I expect a much busier market – we will see prices increase yet again in the next two months.