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”.

How can we help

At Hawsons we have a dedicated team of specialist property and construction accountants in Sheffield, Doncaster, and Northampton. If you feel like you or your business is going to be affected by this article feel free to contact us for your free initial meeting.

If you would like to see more information about our property and construction accountants and the services we provide click here.

More from our property experts

You can find all of our latest property and construction sector news here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Free initial meeting

SAC

Stephen Charles

Tax Partner, Sheffield

0114 266 7141

[email protected]

Our offices

Pegasus House, 463a Glossop Road, Sheffield, S10 2QD

5 Sidings Court, White Rose Way, Doncaster, DN4 5NU

Jubilee House, 32 Duncan Close, Moulton Park, Northampton, NN3 6WL

Northampton

01604 645 600

Contact

Get in touch
All content © 2018 Hawsons

Pin It on Pinterest

Share or print...

Shares