Brian Murphy, Head of Lending for Mortgage Advice Bureau, said:
“This morning’s report from Halifax suggests that average values remained broadly stable in August in a modest year on year increase. The steady overall picture can probably be attributed to some regions of the UK, such as Wales, Scotland, East Midlands, Yorkshire and North West performing much better than London and many parts of the South East over the summer months. A highly nuanced and divergent picture has been the case for quite some time now, therefore it’s not surprising to see flat growth at a headline level continuing, albeit that the view from the ground in some parts of the UK may well be very different. Having said that, it’s entirely possible that the ongoing lack of properties for sale in some areas has also provided some support for values.
While events in Westminster this week potentially point to an unpredictable few weeks ahead, once certainty around our EU exit timetable is known it’s widely anticipated that those would-be home movers who are currently ‘waiting to see’ will take decisive action. Having said that, as some regions of the UK are clearly still seeing active markets, then there are still significant numbers of buyers and sellers who are ‘keeping calm and carrying on’ regardless of the latest set of headlines.”
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