As the UK housing market continues to navigate shifting economic conditions, Nathan Emerson, CEO at Propertymark, comments on Zoopla’s latest house price index.
“As the year advances, it remains upbeat to witness greater levels of market activity when compared to only twelve months earlier. Both affordability and consumer confidence continue to steadily improve, with more competitive mortgage products gradually finding their way to the market.
However, higher Stamp Duty costs have impacted house prices in some cases, and this is creating additional regional disparities in terms of house price growth. The UK Government may need to reconsider the real world effects that increased Stamp Duty thresholds across England and Northern Ireland have caused, to better invigorate the market across the long-term.
It remains vital the UK Government and devolved administrations meet their individual housing targets to keep pace with anticipated demand over the forthcoming years and to ensure there is a viable mix of affordable housing constantly flowing into the marketplace for those who aspire to buy.”
