House Prices rise due to single homeowners

According to mform.co.uk house prices look as though they are on the increase, in part, due to the number of houses being bought by single people being on the increase.

The study consisted of over 4000 interviews and suggests that the number of homes bought by single people over the past three years were just 26% however stats for the next 6 months suggests that figure could increase to close to 40%.

Mform.co.uk also suggests that this trend is set to continue as more people decide to live by themselves.

An Mform.co.uk representative, Francis Ghiloni, states: "If more of us decide to live alone, that means more demand for property which will place greater pressure on prices making it more expensive to own a home. This will be made all the worse by the fact that there is a growing shortage of homes in the UK.

"The falling number of marriages is having an effect on the rising number of people buying homes on their own. Similarly divorce - which runs at around 150,000 a year - is also contributing.

"It is even more important for people buying on their own to source the best-value mortgage they can. If you are relying on one income to pay your mortgage you cannot afford to take risks. We'd urge everyone to research their mortgage as thoroughly as possible."