Home prices rose across England and Wales by 0.5% in May according to latest Asking Price Index report from Home.co.uk
Latest Home.co.uk Asking Price Index report – May 2018 headlined, ‘Summer Optimism Masks Market Melancholy’.
The report reveals that home prices rose across England and Wales by 0.5% this month, reflecting seasonal optimism more than fundamentals.
London prices continue to slide extending 12 month losses to -2.5%, the slowdown that began there now seems to have spread beyond the South East and East to engulf the East Midlands and the South West according to Home.co.uk.
Doug Shephard, Director at Home.co.uk said:
“No surprise to find that the Bank of England’s talk of raising interest rates this month was just that.
“A somewhat humiliating U-turn from the Old Lady of Threadneedle Street, seemingly surprised by the latest batch of poor economic data, means that rates will stay the same. Relief for the UK housing market though, which is already in enough trouble as overall growth trends to zero. Relief too for the banks, with a spokesperson for Barclays commenting that “Delaying the next hike will eventually lead to not being able to deliver it at all.” more….
Read the lastest Home.co.uk Asking Price Index report – May 2018 in full click here.