Rising market conditions have been reason enough for many prospective house buyers to play the waiting game when it comes to purchasing their next property. When will some kind of stability return, and what could it look like?
Up-to-date information provided by the UK House Price Index indicates that:
- In England, May 2022 data shows, on average, house prices have risen by 1.3% since month on month, a trend that is likely to continue
- Over the course of the year there was an increase of 13%, leaving the average UK property valued at £302,278
There is light at the end of the tunnel though, as for the first time since early summer London property prices specifically have become slightly more stable. The Telegraph went as far as to say that ‘London’s property market had already been “overvalued” by as much as 50% and this has raised fears of a “looming correction”.’ We all know what that means.
- The situation outside of London is not quite as severe. Though London’s property market saw price increases of 8.2% annually; this is 4.8% less than the UK’s average housing market.
As the market’s month on month price increases begin to stabilise, landlords may seek an opportunity to take advantage and make purchases before prices hit a new peak. For landlords whose capital is locked in existing assets, it can be challenging to progress with the next mortgage. A challenge to which Wectory offers an innovative solution. Wectory opens landlords to the option to reinvigorate cash-flows and maximise on the value of their investments today rather than over a sustained period of time. Maybe it’s time to strike whilst the iron shows signs of warming up.
Wectory can offer up to 12 months’ of rental income in advance, so landlords & investors can put down a fast deposit on a new property. A single Wectory upfront payment to a landlord can reach in excess of £10,000 and removes the need for further borrowing exposure as interest rates are beginning to rise.