House Prices Fall For First Time Since 2012
Were you looking to make the move this summer, but finances are holding you back? Well recent reports and figures published show that house prices have fallen for the first time since 2012, making it an opportunistic time to consider making the move.
According to Nationwide, UK house prices were 0.1% lower in June than the same time in 2019, making the first annual drop since 2012. They went on to confirm that property values had dropped by 1.4% compared to May, with the typical house said to now be worth £216,403.
This will be welcome news for potential first-time buyers looking to secure their first purchase and get themselves on the property ladder, as they hope for house prices to continue to drop. However, it’s suggested that as a result of this, mortgages may be harder to secure down the line.
The pandemic hasn’t stopped houses up and down the country continue being listed on the market throughout June and July, as the housing market slowly starts making tracks to getting back to normal. According to estate comparison site GetAgent, these are some of the areas that had the most house listings during lockdown:
Liverpool - 5,101 listings
Birmingham - 4,081 listings
Leeds - 3,830 listings
Cornwall - 3,673 listings
Leicester - 3,180 listings
Exeter - 2,914 listings
Durham - 2,654 listings
Manchester - 2,483 listings
Bristol - 2,473 listings
Salford - 2,401 listings
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Content correct at time of publication.