THERE are positive signs in the housing market which could be “music to the ears” of prospective sellers, an Oswestry-based estate agent has said.

The Bank of England has predicted the housing market is set to remain stable and house prices to rise into 2019.

Roger Parry & Partners – which has an office in Oswestry – indicated that this is a positive sign for anyone considering selling their property in the near future.

Every three months, the Bank of England Monetary Policy Committee (MPC) forecasts the likeliest path for growth in the UK economy over the next two to three years in its Inflation Report.

Based on a mid-range outcome for Brexit, the MPC’s latest forecast for housing, across the UK, is that mortgage approvals are projected to remain stable and UK house price inflation is expected to rise by a little more than three per cent by mid-2019.

There could also be good news ahead in terms of gross domestic product (GDP), according to committee members. The MPC also thinks that GDP growth in the UK will stay around 1.5 to two per cent over the next two to three years, meaning interest rates may rise, but only slightly at 1.25 per cent.

Mark Hudson, sales negotiator for Roger Parry & Partners’ Oswestry and Welshpool branches, said, “The latest news coming from the Bank of England is just what potential sellers want to hear right now.

“It shows confidence in the current housing market with positive signs that house prices will rise going into the new year.

Mark continued, “Over the past few years, the market has been stable, with mortgage approvals remaining unchanged since mid-2016 despite low interest rates.

“This is a positive sign from the Bank of England, despite the uncertainty of Brexit in 2019.”

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