If you are interested in mortgage advice then you have come to the right place. In the past decade, total household wealth has increased by 55% largely due to a significant increase in property value which has now outpaced surging mortgage debts. This means that the value of wealth is growing at a much faster rate compared to the increase in consumer prices as well as disposable income. While the financial downturn has stripped the value of assets since the year 2007, household wealth has been on a steady increase since 2001.
Wealth has therefore managed to outstrip disposable incomes and inflation with the Retail Prices Index now up by 38% over the past decade and disposable income has risen by 44%. Booming house prices over the past decade have added a significant amount of wealth to many households. As the percentage of total wealth, property has risen from 36% to 40% between 2001 and 2011. Over this period, housing wealth rose by 73% while financial wealth rose by 44%. This means that a person who is interested in Mortgage Advice should take comfort in the fact that property value is increasing despite the financial crisis.
However, this year house prices seem to be suffering a wobble with major reports indicating that property prices are falling and analysts are predicting a tough year ahead. Considering the tough economic times, the decline is property value is modest and there is a chance of property ขายอาคารพาณิชย์ value battling against the tide. While mortgage lenders say that there is a marked improvement in house prices in the past 12 months, they caution that we are unlikely to see property prices rising this year. The outlook for property prices still remains uncertain and prices will continue to flat line over the course of the year.
This shows that house prices in June fell by 0.6% with an average property losing 300 in value. This meant that over the last year, property prices were down by 1.5% showing stagnation compared to recent years. Dissecting the housing market, the prices of newly built homes rose by 5.1% while pre-owned homes rose by 1.1%. However, this substantial gap existing between these two is narrowing. On average, the total cost of purchasing property, paying your mortgage and maintaining it is 429,000 over a half century, while renting would set you back 623,000. For mortgage advice, this makes a case for buying a property outright.
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