house prices

UK house prices fall for first time in 2019

UK house prices fell this month for the first time this year suggesting it will be a buyers’ market in the second half of 2019, according to property website Rightmove.

Rightmove says the price of property coming to market fell by 0.2%, or £656, this month - the first monthly fall so far in 2019.

On an annual basis they also fell by 0.2%, taking the average price down to £308,692.

The property website says that fewer properties are coming to market and it is taking 62 days to secure a buyer – the longest in six years.

Housing market has ‘air of stability’ despite Brexit cloud

The increase takes annual growth to 5.2%. Commenting on the figures, Russell Galley, managing director, Halifax, says: “We saw a slight increase in house prices between April and May, but the overall message is one of stability.

“Despite the ongoing political and economic uncertainty, underlying conditions in the broader economy continue to underpin the housing market, particularly the twin factors of high employment and low interest rates.”

Falling London house prices give buyers hope

Since February 2019, UK house prices have fallen slightly – by just 0.2% – which makes the average property in the UK £226,798.

In England, on average, house prices have fallen by 0.5% since February 2019The annual price rise of 1.1% takes the average property value to £243,128.

Brexit-weary London drags down UK house price growth

Annual house price growth in the first quarter of 2019 stood at just 0.4%, according to the latest house price index figures from Nationwide – way below the annual growth rate of 2.5% seen at the same point in 2018.

Behind the headline figure were sharp regional differences. Growth was dragged down most by figures for London and the South East. Iain McKenzie, chief executive at the Guild of Property Professionals, says: “Regional influences are extremely significant here.”

House prices in England fall for first time since 2012

According to the Nationwide House Price Index, house prices in England were down 0.7% in the first three months compared to the same time a year ago.

London was the poorest performing region in the first quarter with prices falling annually by 3.8% - the biggest fall since 2009. This is the seventh consecutive quarter in which prices have dropped in the capital.

Second-stepper syndrome: the property problem that’s overlooked

Plenty of column inches are devoted to the uphill challenge young people face making their first step on to the property ladder, the bank of mum and dad, and the amount of cash wasted on avocados. But fewer headlines are devoted to the so-called second-steppers – a group I belong to. Jumping on to the next rung is another daunting obstacle to conquer, so why is it so rarely written about?

UK house prices: affordability improving at fastest rate in eight years

Rightmove says the average annual rate of growth was only 0.2% in February compared with the previous year.

With annual wage growth of 3.4% outstripping asking prices, this means that buyer affordability is rising at the fastest rate since 2011.

Monthly property prices rose by 0.7% - or £1,981 - in February, taking the average house price to £300,715.

UK house price growth slumps to five-year low

Figures from the Office for National Statistics show that average house prices in the UK increased by 2.5% in the year to December - down from 2.7% in November.

Over the past two years, there has been a slowdown in UK house price growth, driven mainly by a slowdown in the South and East of England.