Stabilisation for the Housing Market
There has been a great deal of coverage in the media in recent months; with erratic changes within government, the increase in interest rates and cost of living having an impact on both house prices and buyer confidence. Cooper and Tanner have seen first hand how these factors have affected our customers and we have been successfully guiding them through these challenges however; as reported in The Negotiator, the nation is experiencing what we ourselves have observed in recent weeks...that the market is settling and stabilising.Kim Kinnaird, Director of Halifax Mortgages has said “The start of 2023 has brought some stability to UK house prices, with the average house price remaining largely unchanged in January at £281,684, a very small decrease on December. This followed a series of significant monthly falls at the end of last year” Halifax January 2023 House Price Index (halifax.co.uk))
For more information on what is happening in the market right now, please follow the link below to The Negotiator, who report on how Halifax have qualified this stabilisation of the market and what is expected to happen this year.
House prices 'stabilising' after falls over past two months (thenegotiator.co.uk)
Cooper and Tanner continues to use the extensive wealth of experience and knowledge within our firm to guide our customers through every facete of their sales and purchase, to achieve the happy outcome of owning their new home.