House prices bounced back in June. But, it is an entirely different story for prime north London. London showed a very weak pace of growth since the year of 2012. Prices rose for the very first time in three months in June. Monthly growth rates are traditionally volatile, especially on a regional level. It would be a wise thing to not sit around and wait for a fanfare of property. This is a very tough situation.
Key Takeaways:
- The average house prices in Britain have gone up for the first time in three months nationally, but prices in North London are performing more weakly than the average.
- The increase in the number of buyers demanding property without a similar rise in supply may be the reason prices are increasing.
- Vendors who are not placing appropriate prices on houses are causing sales to fall, making the market for property very price-sensitive.
“With growth creeping along with all the enthusiasm and pace of a drunken snail, the gap in growth between household income and house price inflation is continuing to squeeze the pockets of buyers as mortgage approvals drop even further.”