Doug Crawford, CEO of My Home Move, comments on today’s ONS House Price Index for JuneAugust 15, 2018
“There is more good news for the UK’s pool of frustrated prospective first-time buyers today, as the latest figures for June suggest slower house price growth is a longer term trend than many first thought. Areas where many have been locked out of the housing market over the last decade are cooling at a quickening pace, as London prices experienced a 0.7% fall across the year.
“While this trend will be welcomed by hopeful new buyers, existing homeowners will be keeping a very close eye on how house prices move throughout the rest of the year. The future economic landscape in the UK remains unclear, particularly due to the current Brexit negotiations, and market participants will hope for signs of stability.
“As it stands, healthy appetite from home buyers is keeping the market afloat regardless of house price trends. Because of this, the industry must ensure to keep pushing to close the gap between supply and demand, in order to create a market which works for buyers and sellers alike.”