We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Evolution Money
Customer Enquiries 0161 814 9158
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue
Home > House prices falling for the first time since 2012

House prices falling for the first time since 2012

17th May 2017 | Published by Henry

According to a recent statement released by Halifax, house prices in the three months to April 2017 were approximately 0.2% lower than in the previous quarter. That means the average house price now stands at £219,649. Although the fall may seem marginal enough, this is actually the first quarterly decline in the UK housing price index since November 2012.

The report follows another statement made by Nationwide last week that revealed house prices were, in fact, growing at a slower annual rate than at any other time during the last four years – a relatively sluggish 2.6% growth per year, to be exact.

Both reports are indicative of a general downward trend emerging in the property market in the first half of 2017:

Why are house prices stagnating?

The fall in house prices reflects the current demand for housing, which seems to have been falling in recent months due to affordability.

If you consider that until this point house prices have been consistently inflating each quarter for nearly five years, it seems that now we’ve finally reached a tipping point – albeit a modest one. Simply put, the cost of reaching the next rung on the property ladder has inflated beyond what most people can afford.

Supply is also a major factor. A recent RICS report revealed that the average stock levels on estate agents’ books is at a historic low, which means there are fewer options than ever for people looking to move.
Nevertheless, mortgage rates remain very low which, coupled with a general shortage of supply across the country, is expected to keep the housing market at a steady level over the next quarter.

Category: Homepage, Money
This post was written by Henry
Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 90 out of 100, based on 112 reviews over the past year. 112 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoThe Finance & Leasing Association is the leading trade body for the motor finance, asset finance and consumer credit industries in the UK.


Feeling social? Check out our social pages!

Tweet us on Twitter
Like us on Facebook
Pin us on Pinterest
Add us on Google+

Our Address

Evolution Money,
9 Portland Street,
M1 3BE

Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

© 2018 Evolution Money | Privacy Policy | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions
Apply Online
I want to borrow £

You will receive a call today to continue with your application.
Thank you for taking the time to fill in our online enquiry form. Unfortunately in this instance we won't be able to help as being a homeowner is one of our primary requirements.
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution