UK house sales fall by nearly a quarter
SALES of UK property slipped by almost a quarter in September, according to LSL Property Services.
The firm’s House Price Index shows that UK real estate transactions fell by 24 per cent last month, while house prices dropped by 0.1 per cent compared with August. The declines, which see the annual increase of UK house prices slow to 2.2 per cent, have been attributed to the knock-on effect of the Olympics.
LSL Property Services commercial director David Brown says: “A combination of dipping house prices and falling sales numbers point to a slowing market in September as a lethargic mortgage market and the knockon impact of reduced buyer activity in August took its toll during the month.”