GROWING UNCERTAINTIES AND AFFORDABILITY CONSTRAINTS IMPACTS BUYERS ACROSS THE HOUSING MARKET
Despite the slowdown in the UK property market, “UK house prices fell in April as growing uncertainties and affordability constraints impact buyers across the market”, Property Investor Today, reports.
Figures from Halifax revealed the following:
There was a reduction in house prices by 0.1% in April in comparison to March
The average price of a home in the UK reduced from £219,788 in March to £219,649 in April
The annual rate of price inflation was 3.8% in April, the lowest rate in four years
The April price is almost £2,500 below the all-time highest price of £222,190, of December 2016
Jonathan Harris of mortgage broker, Anderson Harris, said:
“The issue for buyers is affordability and bridging the huge gulf between incomes and house prices. We are seeing a number of down valuations from surveyors as caution starts to become more prevalent.
“Vendors are beginning to appreciate that their homes aren’t worth as much as they thought.”
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