Rightmove: UK house price growth slowing down

Money News

www.moneynews.co.uk > Housing market > Rightmove: UK house price growth slowing down

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Rightmove: UK house price growth slowing down

The government's decision to abolish Home Information Packs (Hips) has prompted a rise in the number of houses on the market, it has been revealed.

Figures published by Rightmove show that property values across England and Wales increased by only 0.3 per cent in the five weeks to June 12th.

This comes after a 0.7 per cent rise during the previous month.

The number of people putting their home on the market has risen by 22 per cent since the decision to end Hips was announced.

Rightmove commercial director Miles Shipside said the "mortgage famine" and surge in sellers is likely to halt any recovery in house prices this year.

"It is an unfortunate concatenation of events that disrupts what was sort of passing as normal service, where investor appetite provided an uneasy balance to the first time buyer-starved market," he added.

The Council of Mortgage Lenders revealed last week that borrowing in the UK rose by seven per cent during May, compared to the previous month.ADNFCR-323-ID-19849780-ADNFCR

Related News : Housing market

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet