Sellers’ woe as house prices slump again: Property values fell by 1.4% in September after 0.2% slide in August
- Buyers are now taking a ‘wait and see’ approach, expert says
- Annual house price growth has also slowed to 2.5%, figures show
House prices have dipped for the second month in a row.
Property values fell by 1.4 per cent in September, after a 0.2 per cent slide in August, Halifax bank reported.
Annual house price growth also slowed, to 2.5 per cent, following a 3.7 per cent increase in August.
Jonathan Harris, director of mortgage broker Anderson Harris, said buyers who do not have to move now are taking a ‘wait and see’ approach instead.
Property values fell by 1.4 per cent in September, after a 0.2 per cent slide in August
He added: ‘For those who are willing to get on with it, there are deals to be done – as long as sellers are prepared to be realistic on price.’
Lucy Pendleton, co-founder and director of estate agent James Pendleton, said: ‘A fall of this scale is quite a retreat at a time when increased competition among those racing to move by Christmas would normally give the market a bit of buoyancy.’