"House price rises are slowing after hitting an affordability ceiling for many parts of the UK, according to new figures from Halifax - but sellers are still "delusional" about the valuations they can demand.
The average price of a British home rose 0.9pc from November to December to £188,858 continuing a six-month trend of falling annual growth rate.
Values in the last three months of 2014 were 0.3pc higher than in the previous three months, making December the fifth consecutive month in which the quarterly rate of increase declined.
Martin Ellis, housing economist at Halifax said the figures showed a market where house prices have outstripped wage inflation and hit an affordability ceiling for many parts of the UK.
“The deterioration in housing affordability as a result of rising house prices, earnings growth that has been consistently below consumer price inflation until very recently and speculation of an interest rate rise, have combined to temper housing demand since the summer," he said. "
Source:
'Deluded' sellers and sky high house prices have stalled the property market - Telegraph
The end is nigh!
The average price of a British home rose 0.9pc from November to December to £188,858 continuing a six-month trend of falling annual growth rate.
Values in the last three months of 2014 were 0.3pc higher than in the previous three months, making December the fifth consecutive month in which the quarterly rate of increase declined.
Martin Ellis, housing economist at Halifax said the figures showed a market where house prices have outstripped wage inflation and hit an affordability ceiling for many parts of the UK.
“The deterioration in housing affordability as a result of rising house prices, earnings growth that has been consistently below consumer price inflation until very recently and speculation of an interest rate rise, have combined to temper housing demand since the summer," he said. "
Source:
'Deluded' sellers and sky high house prices have stalled the property market - Telegraph
The end is nigh!
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