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House price growth to continue on upward trend, says Aldermore

POSTED: 7th October 2016
IN: Newsroom
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Commenting on today’s house price figures, Charles Haresnape, Group Managing Director, Mortgages, at Aldermore, said: “Despite the widespread uncertainty caused by the referendum vote, house prices have remained stable and some of the gloomier predictions have failed to materialise, with average asking prices rising in September. Nevertheless, we are likely to see a slower, upward trend in house price growth over the remainder of the year."

Commenting on today’s house price figures, Charles Haresnape, Group Managing Director, Mortgages, at Aldermore, said:

"Despite the widespread uncertainty caused by the referendum vote, house prices have remained stable and some of the gloomier predictions have failed to materialise, with average asking prices rising in September. Nevertheless, we are likely to see a slower, upward trend in house price growth over the remainder of the year.

"The current lack of supply in the market means that homeowners looking to move have little incentive to drop prices. However, house prices are only one part of the picture for those looking to get onto the housing ladder, with recent research conducted by Aldermore showing that raising a deposit has eclipsed house prices as the main obstacle for first-time buyers."

**Ends**

For further information, journalists can contact:

Rachael Snelling, Aldermore
Phone: 020 8185 3102
Email: Rachael.Snelling@aldermore.co.uk

Johnathan Priestley, Cicero Group
Phone:0207 297 5954
Email: Johnathan.Priestley@cicero-group.com

Notes to Editors:

Aldermore

Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.

Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.

Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.

Established in 2009, Aldermore has grown significantly. At the end of June 2016, lending to customers stood at £6.8 billion and customer deposits totalled £6.5 billion.

For more information, please visit www.aldermore.co.uk.

Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.

Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.

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