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.
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