Yet more evidence in a slowdown in the UK housing market

It seems as if there is further evidence in a slowdown the UK housing market, as for a second month house prices have stagnated this applies for both buying and selling. The data was gathered by Hometrack, who says that the reason for the slowdown is mainly down to higher interest rates.

With taking these figures into consideration it shows that the growth in the housing market has now fallen another 5%, this is a stark difference to April when the housing market was on a high with a growth of 6.8%.

Property Group Hometrack have also said that estate agents said that there has been a 2.7% drop in the number of sales agreed in the month of September, add to this a drop of 4.5% from demand from potential buyers in the same month which means that since June the drop has been 11%.

Source