“The housing market has been through a tumultuous time since the Brexit vote”: LendInvest responds to ONS UK HPI
The latest UK HPI from the Office for National Statistics has been published today, revealing that house prices in June continued to grow, increasing to 8.7% for the year (up from 8.5% last month).
Responding to the figures, Ian Thomas, Co-Founder and Director of LendInvest, said:
These figures cover the month of June, but the housing market has been through a tumultuous time since then. The early signs are that house prices could be cooling in certain areas since the Brexit vote, but then the Bank of England’s move to cut interest rates to a new record low may push up demand.
One area where there is certainty though is on the issue of supply – we simply aren’t building anywhere near enough homes to meet demand, and the biggest housebuilders are taking a cautious tone about doing more since the Brexit vote. The Government must throw its weight behind measures to support homebuilders of all sizes if we are to tackle the housing crisis.
About LendInvest
LendInvest is the UK’s leading platform for property finance.
LendInvest offers short-term, development and buy-to-let mortgages to intermediaries, landlords and developers. Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance.LendInvest has lent over £3bn of short term, development and buy to let mortgages.
Its funders and investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages. The company has reported annual profitable growth since 2015 and was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, and both Specialist Lender and Buy-to-Let Lender of the Year for 2019 at the last NACFB awards.