Prices ex­pected to slip fur­ther

Yorkshire Post - Property - - PROPERTY -

AV­ER­AGE house prices slowed to a stand­still in June as de­mand fell and sup­ply con­tin­ued to in­crease, ac­cord­ing to Home­track.

De­mand fell by 0.5 per cent for the first time in five months with some agents cit­ing the weather and Ju­bilee bank hol­i­day.

New sup­ply grew by 1.5 per cent in June and the sur­vey re­veals a shift in the bal­ance be­tween Lon­don and the rest of the coun­try. Price growth in Lon­don re­mained steady at 0.3 per cent for the last three months as sup­ply re­mains tight. Across all other re­gions there was ev­i­dence of price falls. York­shire’s prices fell by 0.2 per cent. Over­all, Home­track ex­pects un­cer­tainty and weaker de­mand to result in prices slip­ping by 1-2 per cent over the next six months.

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