UK real estate figures have fallen for the fourth in a row since 2012 according to a report by Halifax.
The mortgage bank said the cost of properties has risen between May and July and were 0.2% less than the last quarter.
The price, according to Halifax’s own mortgage records, indicates that the annual house cost had reduced to just 2.1%.
Some surveys that were carried out shows a dormant United Kingdom housing business trade.
Russell Galley, of Halifax, said. “House cost still remain widely low, since the beginning of the year.
“The cost of the average home climbed to 0.4% amid June and July, with average property worth at £219,266.”
First-time clients will be happy with the numbers and this shows that the cost of housing is not as high as it used to be.
Last year, the cost of properties increased at an annual rate of 8.4%, but it has reduced a bit.
The Halifax says the order is fragile owing to a cocktail of the lesser wage increase, a hike in cost in the stores, and managing issues. It reflected on its competitors Nationwide, indicating to a lengthening shortage of houses on the business community is the reason why costs still rise although at a reduced rate.
Low Mortgage Rate Across Board
“Mortgage Rates remain highly low. State of affairs has continued to back the housing business to some point and will continue to do it with no plan of interest rate growth on the perspective. Mark Harris, chief executive of mortgage broker SPF Private Clients said.
“One major concern affecting these prospective clients is not about getting the mortgage they want but searching for a property that they desire to purchase. So until supply gets better, the case still will remain the same.”