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In a Nutshell, 13th July 2016

House Prices rose in June
Nationwide's house price index rose 0.2pc, the same as the previous two months, bringing annual price inflation to 5.1pc.

Nationwide suggested that prices increased due to low mortgage rates, high employment and continued low supply.

Howard Archer, chief economist at HIS Global Insight, said: "Housing market activity and prices now look to be at risk of a downturn following the UK's vote to leave the EU."

He predicted that house prices could fall by 5pc in the next six months, wiping out this year's growth, plus a further 5pc fall in 2017.

However, Ian Thomas, director of LendInvest, said: "In our view, the fundamentals of the UK housing market won't change abruptly. The fact is that housing massively outstrips supply.

"Brexit may create opportunities, too. It could result in the housing market cooling and resetting in areas where house price growth has locked out first-time buyers and others that want to purchase property."


Mortgages Rates Keep Going Down
An interest rate cut could come as early as July, slashing mortgage rates even lower than their current standings.

If you have a 35pc deposit, HSBC offer a 0.99pc two-year fixed rate mortgage, and 1.99pc fixed rate for five years.

First Direct has lowered its rates to 2.79pc fixed two-year mortgage for a 10pc deposit, or 1.28pc for a 40pc deposit.

Data from Moneyfacts now calculates the average two-year fixed rate at 2.55pc, down from 2.76pc a year ago.

David Hollingworth, of mortgage broker London & Country, said: "There is scope for more lenders to sharpen up their rates and there could well be more competition to come."


Landlords and Tenants - the best of friends?
83pc of tenants are happy with their current landlord, and 50pc of landlords are 'very happy' with their tenants.

These are the findings from insurance firm Endsleigh, who surveyed 500 landlords and 1,000 tenants on their opinions of being part of the private rented sector.

28pc of landlords stated that they are happy to absorb the costs of rental increases to keep hold of good, reliable tenants.

40pc of landlords also said they would redecorate the property at their tenants' request.

However, 47pc of landlords said the government is failing to protect the private rented sector and that tenants are favoured.

Meanwhile, 78pc of tenants feel the opposite is true, and that the government doesn't do enough to protect them from landlords who could put them at risk.

Generally, though, over two thirds of landlords agreed that the benefits of being a landlord outweigh the drawbacks - 12pc use rent as their main income source, and 36pc use their rental property as a way to plan for retirement.


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