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Falling Household Budgets Strengthen The Decline of UK House Prices

Falling Household Budgets Strengthen The Decline of UK House Prices

The growth of UK house prices has fallen from 2.6% to 2.4% in April 2018. Statistical data provided by Nationwide indicate a 0.2% month-on-month reduction in UK house prices as the number of property buyers fall also. This decline in housing market activity may be due to the impact of stamp duty land tax and the effects of Brexit (slowing UK economy; the prospective rise of UK interest rate and growing pressure on UK household budgets). With these variables in mind, the growth of UK house prices will likely to continue to decline further.

 

Source of information:

  1. https://www.theguardian.com/business/2018/may/31/uk-house-prices-fall-may-pressure-household-budgets

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