Mod­est price falls are ex­pected

Yorkshire Post - Property - - PROPERTY -

De­spite the fig­ures above, de­mand for hous­ing dropped for the sec­ond month in a row fall­ing by an av­er­age of –2.2 per cent in Au­gust, say Home­track.

In York­shire it fell by 0.1 per cent with sales agreed up five per cent, though the num­ber of buy­ers is down 0.4 per cent. Av­er­age time to sell a York­shire home is 10.5 weeks with an av­er­age of nine view­ings.

Mean­while, the sup­ply of homes for sale grew by 2.4 per cent in Au­gust, well above av­er­age for what is typ­i­cally a quiet month.

Richard Don­nell, di­rec­tor of re­search at Home­track, says: “The hous­ing mar­ket is in the process of a mod­est re-pric­ing that is likely to run for the next six to 12 months.

“We ex­pect fur­ther mod­est price falls in the com­ing months.”

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