The future for expats with property in the UK.

So what has been going on?

Conventional wisdom would suggest that in a period of economic uncertainly, rising unemployment and eye-watering levels of government borrowing we would see a fall in property prices or at the very least a much-subdued market.

The Land Registry statistics are based on all completed sales many of which are cash sales that do not involve a mortgage.

The Halifax and Nationwide statistics are based only on transactions involving a mortgage. Typically about a third of sales are for cash and this proportion is even higher in retirement areas.

The Nationwide index is statistically weighted to compensate for this, so we have the Land Registry saying prices have risen 7.6% and Nationwide closely shadowing this saying 7.3%.

Halifax is much lower at 6% although the Halifax average price is higher than the Nationwide’s.

What they all agree is that 2021 saw a significant increase in house prices.

Interest rates

The main factor driving the housing market is the current historically low level of interest rates and the fact that mortgage lenders were able to continue to support the market by lending throughout the pandemic.

These low interest rates will not last forever!!

Can we help?

If you are looking for a new or re-mortgage please do make contact and one of our independent advisers will be happy to assist.