Here's what's happening to your house prices

According to Rightmove

The number of sales agreed at this time of year is the second highest for ten years, only slightly lower than the high of May 2014.

However, spring price momentum stalls as price of property coming to market drops by 0.4 per cent (-£1,172), the first fall in June since 2009 at the height of the credit crunch, and the first fall this year.

Some markets struggling against headwinds, whilst others still have following wind despite uncertainty.

Northern markets motoring ahead with an 11 per cent increase in sales agreed year-on-year, compared to only a 3 per cent increase in the South.

Miles Shipside, Rightmove director and housing market analyst comments: “It now seems certain that we will have continuing political uncertainty, which the housing market traditionally dislikes, and with the first fall in June prices for eight years there is no doubt that the lack of stability is a factor.

“The price of property coming to the market had increased in June in every year since 2009, so buyer confidence has clearly been affected by inflation outstripping their pay packets and current political events. However, demand is still high and markets in some parts of the country seem to be getting used to coping with instability and are still strong.

“The high levels of sales being agreed show that the underlying fundamentals are largely unchanged with high first-time buyer demand which drives movement higher up the ladder, all aided by the cheap cost of borrowing.”

 

 

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