Property price growth has fallen to less than 1% in England

House price growth has almost slowed to a standstill, with the annual price growth in the 12 months up to July 2019 being just 0.7% in England. If we compare that to Wales and Scotland where year on year rise is 4.2% and 1.4% respectively.

In terms of location average London houses prices were down 1.4% year on year to £477,813. Interesting Yorkshire and the Humber area had the highest annual price rise of 1.9%, with the North East having the largest annual price fall of 2.9%.

Key Statistics  

Annual house price growth in the 12 months leading up to July 2019 fell to just 0.7% in England.

London houses prices were down 1.4% year on year to £477,813.

Yorkshire and the Humber area had the highest annual price rise of 1.9%.

The key question is the going to be will the market bounce back. Sam Mitchell, chief executive officer of Housesimple has said “Brexit appears to be the main factor behind the larger decline. While Brexit uncertainty may put some people off moving, life does not wait for politics to calm down and neither should sellers. If you need more space or are in the market for your first or dream home, mortgage rates remain very competitive and less competition in the marketplace could work in your favour”.

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