Published On: Fri, Jul 18th, 2014

UK House Prices Rise a Further 10.5%

The Bank of England has warned that house prices are again on the rise, this time by a further 10.5%. The rising house prices, along with household debt could mean another recession for the country. Continue reading to learn more on this story:

UK House Prices

On average, prices have risen 10.5% in the UK, but in the capital prices have risen by over 20%. The government needs to take immediate action to combat house prices rising further as people are having to cut their spending on everything else in the home just to pay for their mortgage. This could plummet the UK into another recession, and put families in a downward spiral of debt.

If you were to buy a house in the UK now, the average price you’d pay is £262,000. In London, you’d pay around £492,000. That’s a huge difference.

Across the whole of the UK, inflation is the highest it has ever been for 4 years. All homeowners are in agreement that urgent action needs to be taken in order to bring an end to this and get us out of trouble.

If you’re selling your home, you want to make sure that you get as much money as possible for it so you can upgrade or buy a house that suits your needs better. You may not get the average of £262,000 for it, but there are some things you can do in order to help it sell. These techniques have been proven to work:

  • Have a new kitchen fitted. This is one of the most effective ways you can sell your house quickly and add the most value.
  • Improve your curb appeal by tidying up your garden and getting a new front door.
  • Make sure your house smells nice for viewings, so the owners automatically imagine themselves living there. The smell of cookies works well.
  • Empty your storage areas before a viewing so the viewers can imagine what they will be able to do with the space, rather than them just seeing clutter.
  • If you’re looking for painters and decorators in North London, use Rob’s Decorators to help you get the new look you want to attract buyers.
  • Make all rooms look as neutral as possible so the viewers can picture what they will do with a room. Make it so that you can’t tell a child’s room is a child’s room. This could be a home office for the viewers, but they might not be able to picture it with toys everywhere.
  • Be friendly to the viewers, or get an estate agent to show them around and make yourself scarce.
  • Declutter as much as possible so the viewers can really see the amount of space you have available for them.
  • Make sure everything is clean and tidy.
  • Rearrange things if you need to, to make it look more appealing.

 

Try those techniques to get the most money back on your initial investment.
With house prices rising year on year, it’s important we do what we can to encourage the government to get the situation under control so we can avoid another recession.