Housing market pauses for breath in July according to Your Move
The latest Your Move England & Wales House Price Index (HPI) July 2017 headlines ‘Housing transactions pause for summer holidays.’
The housing market paused for breath in July, dipping 0.2%, reducing the annual rate of house price inflation to 2.9%. On an annual basis, the average house price in England and Wales rose by £8,433 to almost reach the £300,000 mark at £298,906. Transactions slowed, dropping an estimated 9% in July from the previous month.
Prices slow but all regions in England and Wales still record annual growth, East of England still leads, with 5.1% annual price growth.
Wales sees the biggest increase in transactions in Q2, despite low price rises.
Managing Director of Your Move and Reeds Rains estate agents, Oliver Blake, said: “Annual prices are still rising positively and regions continue to perform strongly – despite the slowdown in transaction numbers over the summer months.
“Whilst, as a business, we often see this at this time of year, the cause of the dip may also be down to the buy to let slowdown as a result of tax changes.”
Latest Your Move HPI report can be read in full at Your Move.
You May Also Enjoy
Popping the Asking Price Bubble
Highest demand to lease office space since pre-pandemic
Planning consultations for major infrastructure to be streamlined
‘The property ladder pulls further away’ warns Open Property Group
How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase
