Property-price-growth-stalls-in-the-UK
Property-price-growth-stalls-in-the-UK

Property price growth stalls in the UK

Our average debt write-off in 2017 was £75,923

Our service is 100% confidential, accredited & authorised

We have a debt write-off success rate of 96.6%

We are currently entrusted by over 473 clients to deal with their debt

Property prices stall in the UK

| Overview

Residential property prices in the UK have grown at their slowest rate in more than four years, according to new data published by the Royal Institute of Chartered Surveyors (RICS).

The data shows that house price growth has all but come to a standstill nationally, with headline price growth falling from 7% in June to only 1% in July, the lowest level since early 2013. At the same time, house sales have lost momentum with the balance of new buyer enquiries and agreed sales remaining negative.

The new data from RICS come only days after the Halifax published its latest house price index showing that house prices fell in the three months to August, with prices down by 0.2% over the quarter.

Sales are being held back by a range of factors, according to analysts, with a shortage of homes for sale, Brexit and political uncertainty all being blamed. Just 28% of respondents to the survey said they were expecting house prices to rise in the next quarter, the lowest level since July of last year, in the wake of the vote to leave the European Union.

Stephen Wesserman, managing director of West One Loans, said; “Political and economic upheaval, alongside the ongoing supply versus demand issue, is continuing to plague the property market, damping buyer and investor demand.”

Simon Rubinsohn, RICS chief economist, commented: “Sales activity in the housing market has been slipping in the recent months and the most worrying aspect of the latest survey is the suggestion that this could continue for some time to come.“One reason for this is the recent series of tax changes but this is only part of the story. Lack of new build in the wake of the financial crisis is a more fundamental factor weighing on the market.”

Andy Sommerville, director of Search Acumen, urged the government to take steps to prevent the weaknesses in the housing market spreading or getting worse. He said; “The shadow over the housing market is leaving no corner untouched as the stagnation that has been affecting London and the South East markets begins to spread and bring the UK housing market even closer to a standstill. Urgent action is required to prevent the inertia spreading. Growth outlooks have been downgraded and consumer spending is at its worst level in four years. Without action to support increased market activity, the downward trajectory of property values will only rumble on.”

Slowing housing growth and the risk of house prices falling will be a source for worry for homeowners who find themselves in negative equity, or with very little equity in their property.

| How we can help

If you’re worried about negative equity or the value of your property, contact Negative Equity UK on 0161 631 2727 or go online to negativeequityuk.com.

Our team of property debt specialists offers a range of possible solutions based on your situation

Whatever your circumstances, the process starts with a case review. We will obtain all of the original documentation on your mortgage from your lender so we can assess your needs and work out the best way for us to help you

Start getting help TODAY

The UK's Leading

Property Debt Experts

See How We Can Help You

We Can Get A Write Off On Your Mortgage

Call 0161 660 4403

This website uses cookies. By using the site, you consent to the use of cookies in line with our privacy policy.