The latest UK House Price Index has just been released showing house prices fell -1.1% between December and January although they were up 1,3% annually, and now stand at an average price of £231,184.
The average price in the North West stands at £164,769 a 2.1% increase on the year but down 1.5% on the previous month.
Founder and CEO of GetAgent.co.uk, Colby Short, commented:
“House prices and even buying and selling for that matter will be the last thing on many peoples minds, and rightly so. We’re approaching the eye of a pretty serious storm and while some people will continue to transact, there will be a serious reduction in sales due to Government-issued advice on movement and personal contact, as well as the financial implications of the coming months.
While unprecedented, the UK property market has faced far worse and once this storm does pass, it will still be standing firm, ready to pick up where it left off following December’s election.”
