Why 2020 is hailed as a good time to invest in property

Halifax’s latest house price index shows that UK house prices were 2.1% higher in November 2019 compared to a year ago. Testing this now

The rising house price trend has stoked optimism among experts that as we move into 2020, the cost of property in the UK will continue to increase.

Experts are predicting that house prices will rise somewhat significantly in 2020.

With house prices poised to rise further and mortgage rates currently at an all time low, 2020 could be a good time to invest in property in the UK.

According to Real Homes, despite Brexit and political uncertainty, house price growth will continue to outstrip income growth levels in 2020, meaning buying a house sooner rather than later would be a wise move.

“What’s a first-time buyer to do?” asks Real Homes, adding: “We’ll reiterate our advice: if you’ve found a suitable property and are in a position to buy, do it now and secure a good, fixed rate mortgage. The longer you wait, the bigger your loan is likely to be.”

Rates on 10-year fixed-rate mortgages have dropped to the lowest on record. One of the biggest attractions of such long-term fixes is that they protect homeowners from any future rises in the Bank of England base rate, which currently stands at just 0.75%.

Five-year deals are also highly competitive, offering the security of a good fixed rate for the foreseeable future but with greater flexibility than a ten-year fixed term.

The bottom line is that with mortgages rates historically low and house prices poised to rise at albeit more moderate rates than we’ve seen in recent years, 2020 could be a good time to invest in property in Britain.

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