There is a slowdown in homes coming to the market and in those selling according to data from Agency Express based on its board activity.
National ‘Sold’ figures declined for a third consecutive month, down 4.4 per cent, with new ‘For Sale’ listings down 3.7 per cent.
Agency Express says that while a slowdown during May is not unusual the decline is greater than years previous, although figures may still be somewhat distorted by the stamp duty changes.
Average house prices in England and Wales are set to increase by 30% in the next five years, with the national forecast reinforcing the north/south divide.
While prices in London are set to rise by almost 33%, the real beneficiary of the recent London boom will be the South East, forecast to increase by 37% by 2019. The North West will be the slowest riser according to the forecast, but will still go up by 24%.
Lets Explode some common Myths…
Miles Shipside, Rightmove’s housing market analyst, tackles some of the most commonly occurring questions – including some common misconceptions such as:
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The FCA has signalled it may look to crack down on clauses within mortgage contracts which allow lenders to push through rate hikes despite base rate remaining at a record low.
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Rent arrears are becoming the fastest-growing debt problem in the UK, according to the Money Advice Trust charity.
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The Bank of England could raise interest rates as soon as 2015, the National Institute of Economic and Social Research (NIESR) has said.
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