Sellers’ woe as house prices slump again: Property values fell by 1.4% in September

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.’

 

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