The national average price rising slightly slower than inflation says Home.co.uk
Home.co.uk today released their Asking Price Index report August 2017 headlined ‘The West and North Prosper while London and the South East Weaken’.
Home prices dip by 0.1% month-on-month but remain up 3.3% year-on-year. Greater London prices drop 0.8% this month but are 0.4% higher than in August 2016.
Whilst the overall picture is one of stagflation, with the national average price rising slightly slower than inflation, the UK property market shows considerable diversity at the regional level.
Doug Shephard,Director at Home.co.uk, said:
“Like it or not, the PRS is a major part of the contemporary property market.
“Its growth was unintentionally accelerated by ultra-low interest rates and it became the ‘no-brainer’ investment of the decade. Importantly, it has changed the way the market operates in several ways. First-time buyers, once thought of as the ‘lifeblood’ of the market, have been replaced to a great extent by BTL investors. The same investment demand has also driven up prices ahead of wages and has therefore made first-time purchases more difficult. On the other hand, there is now a lot more rental property available and that is a great benefit for many, keeping rents competitive and providing flexible accommodation for an increasingly mobile workforce.” more….
Read the Home.co.uk Asking Price Index report August 2017 in full click here.
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