Rents to continue to slide and home values to follow in short term says Home.co.uk
Home.co.uk today released their Asking Price Index report November 2017 headlined ‘Don’t Panic: Stock Levels are Low and Demand Persistent.’
The summary section leads with: ‘Falling London prices and seasonal factors are weighing heavily on the national average, despite continued price growth in the country’s most vigorous regional property markets (both the East and West Midlands and the North West).’
The report mentions: The current period of stagflation in the UK housing market has been brought about by a delicate balance between regions that show growth and those that are now price correcting post-boom.
Doug Shephard, Director at Home.co.uk said:
“So is this the ‘top’?” is the question on the lips of many observers of the property market.
“Sensational reporting of the most recent RICS survey would have us believe that it’s all downhill from here, but without a crystal ball we cannot be certain. Looking at the facts, annualised growth has certainly reduced from the heady heights of previous years. This year, overall price growth appears to have stabilised around the 3% mark: less than inflation but certainly not negative. Given that above-inflation growth will continue in the Midlands and the North in 2018, the fate of the national growth figures will depend on how severe the correction will be in London and the South East.” more….
Read the Home.co.uk Asking Price Index report November 2017 in full click here.
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