In the year to end July 2017 new build house prices rose on average by 5.5% across the UK which is unchanged on last year’s figure. If Greater London is taken out of the calculation and we take a crude average of the remaining regions, then the average house price growth is 4.3% compared to a figure of 4.0% last year. In common with other indices, we are seeing a ripple effect as the heat has now come out of the London market and a gentle price wave moves out across the regions.
But the gradual decline in household incomes and general economic uncertainty seem to be creating a cautious environment. Even the prospect of continuing low interest rates is not generating buyer activity at anything like the levels seen in the run up to the market crash a decade since.
Continued in the full report - please click on the link below to open...
Note: This month’s figures are based on projected data, generated whilst work is being undertaken on the data collection system.