Following the first quarter of the year, 7 regions in the UK have announced that their house prices have increased and it will stay that way for the entire year. Northern Ireland is regarded as the best region in the UK as it reported an increase of 4.4% in their prices but Scotland endured a huge setback as reports have shown that their prices slumped by 1.4%.
As far as yearly stats are concerned, London is still way ahead of the other regions as reports that emerged say that they increased their prices by 4.6%. This sums up the hard work and the effort that are exerted by the business owners as well as the Government’s. The sad thing here is that the region that occupies the bottommost part of the table is still Scotland; sources say that they have dropped their prices by 4.9% in a year.
In an interview, Ben Thompson the managing director of one famous financial company in the UK, said that the statistics that have been released are pretty encouraging as it shows that this year is better as opposed to last year. He added however that this is not the main concern as regards the housing market in the UK.
The main concern of authorities is never about the price but about the availability of the homes. In addition to this, the financial companies are a concern as most of them do not provide mortgages that can accommodate the ‘least’ blessed citizens.
Thankfully, this year has marked improvements as some classy financial companies announced that they are creating a new mortgage plan so that everyone may afford to get a home. These companies have emphasized that the purpose of their plans is to provide the needed schemes for people of every class to have a chance at getting a home.