The Nationwide Building Society reported that the prices of Britain’s house decreased by 0.1% month in August. This slight decline is after an increase of 0.5% in July. The annual growth also weakened by 2.1% in August, below 2.4%. The average price of the UK House is now £ 271,079.
Robert Gardner, Chief Economist of Nationwide, said: “The relatively suppressed speed of the price increase in the house is probably understandable, given that the strength is increased relative to long -term norms.
,House prices The domestic income is still high, which is challenging a deposit amount for potential buyers, especially given intensive cost-living pressures in recent years. ,
He said: “Combined with the fact that the hostage cost is more than three times the prevailing levels in view of epidemics, which means the cost of servicing a mortgage is also a barrier for many.
“In fact, an average earner buying a buyer with 20% deposit for the first time faces an average earnings of a monthly mortgage payment, which is equal to about 35% of the payment of its house, above the average of 30% for a long time.
“However, the ability should slowly improve if income continues to increase, as we expect.
“The cost of borrowing is likely to move a little further if the bank rate in the upcoming quarters is reducing again.
“It should support the buyer’s demand, especially since the domestic balance sheet is strong and the labor market situation is expected to remain solid.”
Alice Hen, a personal finance analyst of Bestinavest by Evelyn Partners, said: “The sellers are pricing more really in a bid to secure safe deals at a time when buyers hold the upper hand.
“The sellers, who were initially listed at the inflated prices, are adjusting their asking prices to remain rapidly competitive.”
Property Professional Body Property Mark CEO Nathan Emeron said: “We have seen a decline through a decline, a trend that shows uplift in the number of property transactions fulfilled.
“There are further challenges, however, such as increasing the supply of new permanent houses, providing support to buyers for the first time and for lenders, ensuring that the latest decline in interest rates translates into more affordable mortgage products.”
Mark HarrisThe hostage broker SPF private customers’ chief executive, said that some hostage lenders have been “priced upwards”, while others have cut rates, saying: “Mixed photo is below to increase swap rates, which do not want to offer the best rates during low heat months, when employees are limited.
“While the mortgage rates will always jump around, we are not expecting any significant cuts or growth in the short term.”
Matt Thompson, Head of Sales London-Bed estate agent Chestarton said: “Last month, buyers used holidays to review their finance, refine their search norms and look at houses that they were already shortlisted.”
Jonathan Handford, managing director of Estate Agent Fine and Country, said: “The marginal 0.1% dip in house prices shows that the market is holding its breath rather than the changing direction.”
Tom Bill, Head of UK residential research Night frankSaid: “Recent property taxes send low to both risk and prices as buyers and sellers deal with pre-ruled uncertainty for the second consecutive year.”
Karen Noy, a hostage expert at wealth manager quulter, said: “While the economic background is challenging, today’s figures suggest that the housing market is still managing to maintain a reasonable determination for now.
“Continuous speed will depend on future interest rate decisions and whether upcoming policy decisions obstruct support or market activity.”
Ian McKenzie, Chief Executive Officer of Guild of Professional Professionals, said: “We guess that the increase in the price of the house will be moderate for the remaining year.
“Increased housing stock levels are promoting more competition among vendors and strengthening buyers with more interaction benefits. Therefore, the pricing of a property correctly will be paramount in this value-sensitive environment.”