The housing market in England and Wales weakened in December as restrictions were tightened across both nations and the end of the stamp duty holiday drew closer, according to a closely watched survey. Sales, new inquiries, near-term transactions and house price expectations all softened in December, the Royal Institution of Chartered Surveyors’ monthly survey showedContinue reading “Housing market in England and Wales loses momentum”
Predictions of sharp downturn next year are gaining ground among experts as outlook dims. In April, with the UK in coronavirus lockdown and the property market frozen, estate agent Savills predicted that house prices would fall by 5 to 10 per cent in the short term.
Resolution Foundation says tighter credit conditions and falling incomes will hamper efforts to get on to property ladder. Big house price falls are likely across the UK over the next 12 months but first-time buyers will not find it easier to get on the property ladder because of tighter credit conditions and falling incomes, accordingContinue reading “Fall in UK house prices will not help first-time buyers, think-tank predict”
Coronavirus crisis continues to affect transactions as restrictions are eased.