The market’s hot…warm…cold

Report Headlines Rightmove: “First-time buyer prices surge nearly 10 per cent in a year.” NAEA: “Sales to first time buyers rise.” Nationwide: “Slight pick-up in house price growth in October.” Halifax: “Annual house price growth rises to 9.7 per cent.” Agency Express: “October’s property market bucks seasonal trends.” LSL: “Fastest annual rise in house prices for six months.” Hometrack: “City level house price growth tentative slowdown.” Land Registry: “September data shows a monthly price increase of 1.0 per cent and the annual price change now stands at 5.3 per cent.” KATE SAYS: “The market clearly had a bit of an unexpected ‘up-tick’ this month, as until now, price growth seemed to have been slowing ‘on average’ each month. An odd statement though from Rightmove suggests that buy to let investors are “competing” with first time buyers. This shouldn’t really be happening as smart investors should secure a property at a discount, with cash, for example and find a way to add value. First time buyers on the other hand have the advantage over investors of needing a much lower deposit, essentially ‘gearing’ their purchase with a five per cent deposit or accessing schemes such as new build Help to Buy.…

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