Hous­ing de­mand shows fall in May

Yorkshire Post - Property - - PROPERTY -

DE­MAND for hous­ing fell for the first time in three months in May putting down­ward pres­sure on house prices, ac­cord­ing to the lat­est sur­vey by Home­track, the prop­erty an­a­lyt­ics busi­ness.

The late Easter break and May bank hol­i­days re­duced the vol­ume of traf­fic through agents’ of­fices, but con­sumer con­fi­dence is also weak­en­ing with concern over house­hold fi­nances and the wider econ­omy.

This will re­sult in small sin­gledigit price falls over the com­ing months, say Home­track, who pre­dict that house prices will end the year down by around one per cent.

In Lon­don the av­er­age time a house spends on the mar­ket is less than six weeks, while in the Mid­lands and North it is 11 weeks.

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