House Inflation Falls to 4 Year Low

It has been announced by Your Move Index that during the month of June, house inflation fell to a 4 year low with prices increasing by a mere 2.9%, a drop of 9% on the previous month.


It would appear that the housing market is taking a moment to settle whist when June 2017 is compared to the same month in the previous year, house prices have still risen overall by £8,433, taking the average house price in the UK to £298.906.


Overall, there were rises and falls seen across all parts of the country but generally those areas that fell were;


Wales, which saw a 1.5% drop to 0.2% for the year

West Midlands fell 1.3% to 3.3%

Yorkshire & Humber reduced by 1.2% for the year

South East fell 3.5% in the same time period.


On the other hand, there were areas that saw an increase;


The South West saw prices rise by 4.2% for the year

East Midlands area recorded an increase of 4.1%

East of England however continues to rise with an annual inflation of 5.1%.


Prices in London fell for the third month running, dropping by 1.6% in the month of June, but equating to the second largest drop in the last 6 years.


Although the outlook is still positive for the housing market, the slowdown could be a result of the buy-to-let market slowing down due to tax changes and the time of year.


There are still plenty of great deals to be had so why not get in touch today and speak to one of our advisers, call us on 03333 44 85 11 or email and we’ll be in touch as soon as we can.