Monday, 8 May 2017

UK house prices in first quarterly fall since 2012

UK house prices are "stagnating" and have actually fallen in the last three months, according to the Halifax.

In the three months to April, prices fell by 0.2% - the first quarterly fall since November 2012.

Over the past month alone, prices fell by 0.1%, the Halifax said.

However, for the year to April, prices rose by 3.8%, the same figure as in March. It leaves the average cost of a house or flat at £219,649.

Martin Ellis, Halifax housing economist, said one reason why prices were slowing was that property had become too expensive for many people.
"Housing demand appears to have been curbed in recent months due to the deterioration in housing affordability caused by a sustained period of rapid house price growth during 2014-16," he said.

BBC    News.