House Prices Slowing Down
Further evidence has been published that house prices are slowing down in England and Wales. The Land Registry said that the annual inflation rate for residential properties fell in September to 8.7%, down from 9.4% in August.
The figures back up other recent surveys, such as those from lenders, surveyors and the Department of Communities and Local Government.
The Land Registry said the fall in September was a “noticeable dip”.
It now seems clear from all available evidence that the housing market is slowing down, say analysts, with prices cooling off, while both house sales and new mortgage approvals are dropping.