Weekend news shows UK House Price Falls
“UK house prices post biggest fall since April as mortgage approval rates rise.”
Alongside headlines such as ‘Average house prices cool‘ it has certainly been a few days of news to interest would be buyers and especially those outside owning their own property and likely to be sat in rented waiting for prices to fall. Of course, countdown to Brexit is very much one some people’s mind from fear that it may effect the UK music industry magically made up by Bob Geldoff to Lloyd’s CEO, Inga Beale, revealing news that the company was investigating moving insurance contracts over to Brussels to lessen the effect of Brexit – There is also great fear that Brexit in full will have an effect on UK house prices due to decrease of immigration and fear that London’s inflated house prices and foreign investors will start to see price falls and thus a chain reaction across the country.
These include drug, fuel and energy shortages as well as the collapse of the pound, a drop in house prices and businesses relocating… Quotes from Sunday Express re May and her Brexit talks
Though of course, reading the small print as many of us should always do, we can read it with less fear if you are a home owner / investor as the annual growth still shows a positive figure. House building is still no where near where it should be and demand for property is very high – Though a recent report I released showed that many sellers of property have had to acclimatise their expectations on valuation with many property prices being reduced in order to attract buyers. Is it just a time where the market is going to slow down, small price adjustments and then things will kick off once again and another price hike of UK property will emerge once again?
Still very much a market suited to home owners, but could this soon change? Scare tactics based on no strong foundations maybe?
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