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Hometrack Survey Reveals 0.9% Decline In Buyers In July

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Signs of housing slowdown emerging

House prices rose by 0.6pc over July taking year on year growth to 3.2pc according to the latest national house price survey from Hometrack.
Whilst the strength of the market in London continues to flatter the headline results the July survey provides clear evidence that
levels of house price growth and market activity are starting to slow, a trend which is expected to continue over the rest of the summer and into the autumn.
The Hometrack survey shows a 0.9% decline in the volume of new buyers
registering with agents over July, the first decline in buyer numbers this year. This is a normal seasonal trend but one that has arrived a month later than in previous years. "The growth in prices over July may seem at odds with the decline in demand" said Richard Donnell, Director of Research.

Slowly the market begins to turn again. As IR hikes, affordability and deteriroating employment starts to bite the trend will continue to pick up speed as the market hurtles toward its inevitable destiny in accordance with the usual cyclical nature of these things.

Edited by Realistbear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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