The housing market in the UK, also known as Halifax, is slowing down. Inflation slowly started to fail at 3.3 percent. No prices since May have changed. Since March, property prices fell 0.2 percent and then rose between April and May to 0.4 percent. according to the article, the demand for housing in the UK is actually pretty low compare to other places. most houses have been on the market for 14 months or longer
Key Takeaways:
- Housing prices in Halifax were decreasing in the year leading up to May but have since been stable.
- Prices are unlikely to decrease more during hte summer due to a shortage in properties.
- There has been a rise in the building of houses in the private sector during 2017.
“The fact that the supply of new homes and existing properties available for sale remains low, combined with historically low mortgage rates and a high employment rate, is likely to support house price levels over the coming months.”
Read more: https://www.bbc.co.uk/news/business-40173752