07 Jul House Prices Slipped
House Prices Slipped
According to figures from Nationwide in June house prices slipped as they were 0.2% lower than what they were in May showing that house prices have slipped.
Although prices are up from this time last year (3.3%) they are starting to decline over more recent times, is the start of the decline. With a very crowded marketplace and finance being very difficult to obtain is it only a matter of time before we see a steady decline in prices.
According to Nationwide, the average UK house price is now down to £195055. So what does this mean for you if your house is currently on the market? Well, more than likely we predict that it will slow things down somewhat, which more than likely have a negative effect on prices, as they say ‘what goes up must come down’. We have been analysing the market and it seems to have been slowing since the back of summer 2014.
London seems to still carry the rest of the market with steady increases in prices month on month, however, don’t let the figures give you a false sense of security as nationally we are the decline. Even with London’s prices on the up the affordability is making it increasing difficult for those in London to be able to buy in London.
This week Nationwide’s economist, said: “House price growth continues to outpace earnings, but the gap is closing, helped by a pickup in annual wage growth, which moved up to 2.7% in the three months to April from 1.9% at the start of the year.”
Quick House Buyers such as ourselves can help you to sell your property quickly by giving you a cash offer on your house within weeks and we also pay all the fees.
Here at Home House Buyers we are a quick house buyers so there is doesn’t matter that house prices slipped any chain as we can complete in 14 days so you can sit back relax and wait for the sale to go through. Contact us on 0800 6121 366 or fill out our enquiry form for a free cash offer.