Tuesday, November 29, 2011
Category:
Home Improvements
According to Nationwide, there was a 0.4 percent rise in UK property prices in November. As a result, the annual rate of growth now reportedly stands at 1.6 percent – up from 0.8 percent in October. It has been revealed that a typical home is now priced at £165,798.
Nationwide has pointed out that in recent months property prices have remained resilient, irrespective of the ‘deterioration in the economic outlook’. However, with the expectation that economic recovery in the UK will continue to be ‘sluggish’ well into next year, it has been highlighted that ‘house price growth is likely to remain soft’. It is anticipated that prices will move sideways or gently decrease during the course of the next year.
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Homeowners who would like to move up the housing ladder but do not feel that this is the right time to do so, could consider taking out a
homeowner loan to turn their current house into their ideal home. One of many finance options available, a secured loan could allow borrowers to embark upon an array of home improvement projects in and around their property. For example, if extra living space is required, homeowners could have an extension or conservatory added to their property. Alternatively or additionally, a homeowner loan could be used to convert unused rooms or attic space into an extra bedroom, office or even a home gym!
