UK property prices still rising, but growth slowing in run up to general election, latest figures sh

[Nicholas Wallwork]

Residential property prices in England and Wales rose by an annual 1.8% in April, their fastest*pace of increase since January 2008, according to figures published today. (Monday April 26)

But monthly property price growth slowed to 0.2% in April from 0.3% in March on a non-seasonally*adjusted basis, according to the latest Hometrack price index.

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But monthly property price growth slowed to 0.2% in April from 0.3% in March on a non-seasonally*adjusted basis, according to the latest Hometrack price index.

Great news for price growth, but what about the interest rates, how are they going to change in the next 12 months
After every election that I remember there seems to be an increase in mortgage rates, slow to begin with but a frightening prospect for Buy To Let owners (myself included) when they can reach huge rates of 11%+.

We need stability after the election within the housing and mortgage markets, I for one are not looking forward to any new Government let alone the old one either.
We all need confidence in the market place, higher rates would only cause major issues throughout the whole economic sector ie the housing market.
Unsustainable high rates would cause the rental market of the UK to collapse, no longer would portfolios of many BTL companies withstand those figures that we can only fear and hope may never happen - quite simply those NOT so strong companies WILL fall by the wayside, if it did ever happen leaving many an evicted tenant out on the streets.