The slowdown of house price growth in prime central London, from 3.1% last quarter to 0.5% in Q3 this year is a 'necessary pit stop' for a sustainable market, said one estate agency firm.
New sellers' price expectations are up 2.6% in October compared to September, according to the latest Rightmove house price index.
Consumer confidence in the housing market has fallen to its lowest level in 12 months, according to the latest quarterly Halifax Housing Market Confidence Tracker.
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House prices in the UK are up 11.7% in the year to August 2014 with London prices surging almost 20% in the past year, according to the latest official figures.
The UK can expect house price inflation to slow to 3.5% next year as the general election and an interest rate rise creates caution among investors and homeowners.
Research has revealed that British house-hunters feel increasingly disenfranchised by the lack of affordable housing.
As the housing market continues its upward trajectory, the buy-to-let market is quietly outperforming the residential market in terms of year on year growth during 2014.
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House prices will be driven even higher if strong growth in the labour market continues, Nationwide’s senior economist Stefano Silvestrin has warned.
House prices in London have risen by almost 20% in the last year, figures released by the Office for National Statistics have shown.
House price growth in London continues to outpace the rest of the country, with the price gap now the biggest in almost two decades.
The outlook for the UK housing market is ‘highly uncertain’ despite strong growth in the last 12 months, Nationwide’s chief economist Robert Gardner has warned.
Parents are paying £21,000 more to buy a home near a top state school in England where prices have now reached an average of £268,000.
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