house prices

UK house prices drop by £5,000, with former hotspots in the South suffering

Rightmove says that the price of property coming to market fell by 1.7%, or £5,222, the largest November drop since 2012. This took the average price of a property down to £302,023.

Rightmove says that sellers are pricing more realistically in an effort to minimise pre-Christmas “buyer humbug” syndrome fuelled by stretched affordability and Brexit uncertainty.

House price growth slows to five-year low

According to the Nationwide House Price Index, annual house price growth in October slowed to 1.6%, down from 2% in September – the lowest since May 2013.

On a monthly basis house price growth fell from 0.2% in September to 0%.

London house prices fall for fifth quarter in a row

Robert Gardner, Nationwide's chief economist, says that annual house price growth has been confined to a fairly narrow range of between 2 per cent and 3 per cent over the past 12 months, which suggests 'little change in the balance between demand and supply in the market'.

House prices should be frozen, says new report

House prices should be held at a rate of zero inflation to rebalance the UK economy and to prevent another housing crisis, according to the Institute for Public Policy Research (IPPR).

The think tank’s report recommends the Bank of England creates a separate inflation target for house prices with a target rate of zero for five years.

UK house prices remain flat

Much of the UK housing market remains relatively flat and listless with some exceptions – notably in the Midlands and Wales – according to latest property price indices, with supply shortages providing something of a floor to prices.

The inner London malaise has now spread to the South East commuter belt with London showing a slight fall in property prices.