Average House Price Drops To £233k
The next few months could see more people booking vans to hire in Burnham, as house prices continue to drop, making the prospect of homeownership more realistic to many prospective buyers.
According to the latest Halifax House Price Index, average property values have fallen to £233,181, dropping by 1.6 per cent between February and March.
Russell Galley, managing director of Halifax, stated: “This reduction partly corrects the significant growth seen last month.”
Indeed, house prices shot up by six per cent the previous month, which could explain the sudden decline in values following this.
However, Mr Galley noted the difficulty in building a deposit and getting a mortgage could continue to restrict house price growth in the future.
“These conflicting challenges, when combined with the on-going uncertainty around Brexit, have had an impact across the country but most notably in London, meaning that we continue to expect subdued price growth for the time-being,” the property expert noted.
Despite house prices jumping between January and February, they fell by a significant three per cent the preceding month, showing just how volatile the current property market is.
As the European Union has now decided to allow Britain to delay Brexit until October 31st, this uncertainty could hang over the sector for another six months. Indeed, depending on the outcome of the final deal, house prices could even be affected for much longer than this.
Therefore, if you want to capitalise on falling house costs, now could be the time to do it. Get in touch today to book van hire to help you with your move.Back to Latest News