NNN Lease Market News
U.K. Housing Market is in Firm dDecline After a Rebound in 2010
The figures are the latest to suggest the U.K. housing market is in firm decline after a rebound in 2010. The Halifax mortgage lender said last week that prices in April fell at their fastest annual rate since October 2009.
Prices have been depressed by a variety of factors. Many prospective buyers have seen their monthly income fall in real terms as inflation has outpaced wage growth, making it less appealing to invest in a bigger property. The threat of job loss has also dissuaded some from taking on a bigger mortgage. First-time buyers in particular have been deterred by tight lending conditions.
The RICS said the fall in its balance in May was driven by a rise in the number of prospective sellers on the market, coinciding with a modest drop in people looking to buy.
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