20.02.2013 - UK: Snapshot of the future: the housing market in 2017
Interest rates of around 4% and an average house price of £250,000 will be the new norm for the housing market in 2017, but it will be harder to save and borrowing conditions will be stricter, according to Legal & General. The good news is that 2013 marks the end of the UK’s housing crisis and the start of a slow climb to a new normal. Ben Thompson, managing director of Legal & General Mortgage Club, believes we are ‘coming to the end of the crisis’ and that homeowners have seen themselves placed in a strong position as mortgage rates have fallen, allowing them to pay off ‘secondary debt’ such as credit cards, loans and store cards.......................................Full Article: Source