UK housing market ‘flatlines’

The housing market is “pretty much flatlining” amid political uncertainty, the Royal Institution of Chartered Surveyors’ said in its report for July. Some 69% of property professionals said that sales prices were coming in below asking prices for homes marketed at more than £1m. Meanwhile for properties on the market for up to £500,000, 59% of surveyors reported that sales prices were at least level with asking prices. A net balance of 9% of surveyors reported house prices falling rather than increasing. Separate data from Halifax showed that average house prices were “treading water” in July, slipping 0.2% month on month. The average price of a home in the UK now stands at £236,000.

Related Posts

Government extends Help to Buy scheme

Government extends Help to Buy scheme The Government has announced a small extension to the Help to Buy equity loan scheme to allow for delays caus...

Stamp Duty Cut

Rishi Sunak has confirmed that the threshold for paying stamp duty will be raised from £125,000 to £500,000 immediately in a bid to help the UK housin...