Home Movers Have A Spring In Their Step, Says The Halifax

It seems that there was somewhat of a resurgence in the UK housing market in March, and the extension to the stamp duty holidays were the 'key to the rise in activity'.

This has resulted in the average house price to be 6.5% higher than a year ago.

The rise in housing prices may be good for some. However, for those like first time buyers, it may be frustrating especially considering the uncertainty of Covid-19 which has affected people's income and ability to borrow through a mortgage.

Fortunately, support was offered for these first-time buyers in the Budget by way of a government guarantee, meaning first time buyers could get a wider choice of mortgages that require a deposit of just 5% of the loan.