House prices cool as Halifax warns 2017 will see a slowdown.

The housing market in the UK has gradually reached a slow period over the course of recent months, showing sure signs that it will continue to decline. The average price of a home in the UK is currently at £220,260. This is all due to the economy. The market is seeing fewer homes for sale and interest rates continue to remain low. Property values have dropped a whopping £1,930 in 2017. Britian's biggest lender, the Halifax keeps a record of price indexes. The end of the year saw only a 2.4% increase in value, which was well below last year.

Key Takeaways:

  • The Halifax says weaker economic growth and increasing pressure on spending power, along with affordability constraints, are set to dampen housing demand.
  • Annual growth in house prices slowed in January - a taste of things to come in 2017 according to the house price index produced by Britain’s biggest lender, the Halifax.
  • In the three months to the end of January prices were 2.4 per cent higher than the previous three months

Key Quote:

"Annual growth in house prices slowed in January - a taste of things to come in 2017 according to the house price index produced by Britain’s biggest lender, the Halifax"

Read the full article:

https://www.estateagenttoday.co.uk/breaking-news/2017/2/house-prices-cool-as-lender-warns-2017-will-see-a-slowdown?utm_content=buffer3ea5d&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

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