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House Prices To Stall

House Prices To Stall

House Prices To Stall

A report produced by the Nationwide Building Society has reviewed the current growth of house prices in the UK with very bleak conclusions.

The report indicates that Scotland, where first time house prices are only 4 times annual wages, could continue to show rises in house prices of around 4%. But Northern Ireland, on the back of a lot of rises, has average first time house prices at 8 times annual wages. The report indicates that a drop of 5% could be possible.

Overall, the recent increases averaging over 9% should stall to produce an average 0% house price rise. This could be good news for first time buyers as house prices return to more realistic prices, but difficult on those who have recently bought and may need to resell.