Andy Sommerville, Director at Search Acumen, comments on the latest ONS House Price Index, September 2017:
“As another month passes it’s a case of déjà vu for all those watching the housing market. Prices continue to rise, the hopes of first-time buyers fall and the housing crisis engulfing the UK rumbles on.
“It is not doom and gloom for all. September was the year’s strongest month for house price growth to date, and those with their money firmly rooted in UK property will be jumping for joy to see this ongoing strength in a time of heightened political uncertainty.
“At the lower end of the market, the recent interest rate rise will do nothing to reassure those hoping to make their first step onto the ladder as the cost of borrowing increases and housing supply remains stagnant. All heads turn to the Autumn Budget for the urgent fix to help our market work for millennials and pensioners alike.”
