Good News For Homebuyers As House Prices Fell In 2011
Saturday, January 14th, 2012According to Halifax, the average house price in the UK fell by 1.3% in the UK between November and December. This is higher than the previous decline of 0.9%, which was seen in previous months. As the prices have remained steady throughout 2011, the banks are reporting that they are predicting that the same thing will happen this year. This is obviously dependent on the UK being able to avoid recession.
The report showed that towards the end of 2011, the average house price in the UK was £160,063. It also showed that there were 6 monthly falls, 5 increases and one month where the average prices didn’t change. This is a positive step for the housing market, as it managed to hold its own even though the economic climate wasn’t exactly desirable.
So, what does this mean for people who are intending to buy in 2012? Well, hopefully it means that houses will be a bit more affordable, meaning it’s more likely the market will get going again. Now might be just the time to do a bit of window shopping!