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Are property prices falling in the UK?

The Halifax has stated that the annual house price growth has slowed. However the Royal Institution of Chartered Surveyors (Rics) says a large majority of surveyors in London and the south-east of England have reported falling prices. The national picture is balanced by price rises in the West Midlands, the south-west and Northern Ireland

Opinions are divided as to whether the housing market has suffered from the stamp duty changes which affected investment buyers and second home owners or whether Brexit is to blame.

With over 30 years of practice in the residential Conveyancing legal sector, I have seen many highs and lows in the property market including a few recessions.  This current news is not, therefore. something new to the property market.    Generally property prices will increase however they grow at different rates over time.

The good news is that there are balanced house prices in the West Midlands and the lack of investment buyers has seen an increase in first time buyers joining the market and being able to afford to take the first step on the property ladder.   

Buying a property should be exciting not exhausting!  If you would like to obtain a quote please speak to our initial enquiries team  or alternatively contact  a member of our friendly and experienced conveyancing team who will be happy to advise and help you with the moving process on 01905 721600.



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