House prices in the UK are predicted to increase in February and March, with the strongest growth likely in the Midlands, northern England, and parts of Scotland.
The property market has been showing steady improvement, with house prices rising for five months in a row.
In January, the average home price reached £268,213, although the monthly rise was a modest 0.1%. While this growth has slowed compared to previous months, it signals a continued recovery in the housing sector.
However, affordability remains a major factor affecting the market. Higher mortgage rates and rising living costs are limiting the amount buyers can afford to borrow. As a result, while house prices are still going up, the pace of growth is not expected to be dramatic.
Despite these challenges, property values in the Midlands and northern England are likely to see the strongest increases. As mentioned in our previous article, these regions offer more affordable housing compared to London and the South, making them attractive to buyers even in the face of financial pressures.
For buyers and investors looking to move quickly before prices rise further, bridging finance could be a useful solution. Short-term property loans can help buyers secure a property while waiting for longer-term financing or a property sale to go through. With house prices expected to keep increasing, using bridging finance to act fast could make the difference between securing a good deal and missing out.
The future of the housing market will depend on changes in lending conditions and potential government policies. While prices are expected to continue rising, affordability concerns could slow down the rate of growth in certain areas.