The Guardian article doesn't really say what Movi suggests.
Issue is more houses coming onto market without a corresponding rise in buyer numbers. Not (yet) clear if actual prices are falling. The survey is done by Rightmove and is based on asking prices, these appear to be falling as sellers try and chase a deal.
Only later, when the Land Registry publishes numbers for actual settled prices at completion, will it be possible to say prices are falling. As of now though LR numbers still show rises. There are also huge regional variations. London is flat/falling but in other places the market remains buoyant - decent places round my way still sell in days.
Brexit may be a factor, particularly in London where foreign buyers and the particular consequences of Brexit for the financial sector are in play. Doubt it makes much difference in the North East.
Last edited by: Bromptonaut on Mon 23 Jul 18 at 09:59
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