Average house price fell by -0.3% in July, and are 2.4% lower than a year ago, but Halifax doesn’t expect ‘precipitous decline’ in coming months
Average house prices fell on an annual basis in almost all parts of the UK in July, Halifax reports this morning.
House prices are facing the most downward pressure in the South East – prices have dropped by 3.9% over the last year, meaning the average price has dropped by just over £15,500 in the last year (down to £382,489).
…elevated interest rates are just one factor impacting landlords’ business models, together with considerations of future rental market reforms.
It remains to be seen how many may choose to exit and what that could mean for the supply of properties available to buy.
