Home prices in the UK vary widely in the month of September. While some areas like Midland, Wales, and East if England home sales are heating up many areas are actually cooling off. There are a few factors that are possibly causing this fluctuation, the loan to value (LTV) has increased one percent from this time last year, abd the average buying age has raised from 43 to 45. Buyers looking to wait just a few months could see rates and prices work in their favor as this all levels out.
Key Takeaways:
- Property prices have been increasing in some areas but decreasing in others.
- The September 2017 purchase price is lower than August’s but this could change
- The decrease in property prices in London could start attracting new first time buyers
“Property prices have been wavering for months, with the uncertainty of Brexit causing some fluctuation in the industry.”