Conveyancing solicitors in London are reporting a gradual increase in new instructions due to the slowest pace in annual growth of house prices in two years. This should delay further any rise is interest rates currently being contemplated by the Bank of England.
There was less than a 0.5% rise in residential property prices this month with the annual growth rate just below 3.5% , the lowest since mid 2013. It would appear price growth is becoming proportionate to earnings.
However house building has faltered and needs to be stepped up dramatically if this market upturn is to be sustained over the long term.Share This:-