Annual growth in house prices fell to its slowest pace in five years in June, according to Nationwide building society, with prices rising by 2 per cent.
People who need to move or sell are getting on and doing it, whether that be because of death, divorce or a job move. The slowdown in the market is down to the lack of discretionary movers who don’t need to move at the present time. They are more likely to sit on their hands and delay making a decision, hoping for better value in the future.
Of course, it is all relative. If you are selling and buying then any price movements will affect you both ways but if you have sold, are renting and waiting, then the wait continues.
Interest rates are not likely to move in the short term at least and the mortgage market remains ultra competitive with lenders vying for market share.
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