Commentary: Halifax House Price data beginning to show market slow-down
We give market commentary when journalists or news outlets approach us directly for comment on specific topics. We share our commentary here too. See below.
Whilst showing a buoyant quarterly and annual rate of house price growth, today’s figures also suggest the first slip in monthly values since summer. Why? Because sellers have perhaps been rather too optimistic in their pricing having been buoyed by the hype of the stamp duty holiday.
On today's release of Halifax's latest House Price Index:
Whilst showing a buoyant quarterly and annual rate of house price growth, today’s figures also suggest the first slip in monthly values since summer.
Over-optimistic sellers
Why? Because sellers have perhaps been rather too optimistic in their pricing having been buoyed by the hype of the stamp duty holiday.
Over the last few months, buyers had been happy to go that little bit higher to secure a property given the saving they were going to make. Unfortunately, many are starting to realise that completing in time to actually secure this saving is looking very unlikely.
As a result, they are now reigning in their spending and sellers are having to adjust to lower prices in order to secure a sale.
We've had a rise in enquiries too, with sellers contacting us in an attempt to sell their house fast after they've struggled to find a buyer on the open market.
Price renegotiations may start too
It's even beginning to look like many home buyers will be looking to renegotiate money off already-agreed purchases if they don't manage to complete before the stamp duty deadline comes into force. This will put even more downward pressure on prices.
As the vaccine rollout continues, this month's House Price Index may be our first glimpse of the current pandemic turning into the recession we've unfortunately been expecting.
IN THE NEWS
Browse coverage of this news piece
Our research, guides and commentary are picked up weekly by journalists at national and regional news outlets. See where this one has been covered so far.
A BIT ABOUT US...
Selling your home to Yes Homebuyers
- Yes Homebuyers buy your home directly from you so you can sell your house fast and avoid waiting around to find a buyer on the regular market.
- We offer flexible timeframes to suit you and on average, complete a sale within 30 days.
- Yes Homebuyers' quickest completed purchase was made in six days.
- We guarantee the price we will pay, unlike some buying platforms who reduce their offer shortly before completion.
- There are no fees or costs involved and we cover all legal fees involved.
- There are no contracts or tie-ins even if you accept an offer, and no viewings to take care of.
About Yes Homebuyers
We can purchase your home from you directly, giving you the easiest, fastest home sale possible.
Contact us for a free valuation and offer. We can buy your home in as little as 14 days.
Browse latest articles
Subscribe to get our team's latest insights & research instantly to your inbox.
You can unsubscribe at any time.
See all News, Press Coverage, Commentary & More
Subscribe to our mailing list:
You can unsubscribe at any time.
Let's get started
Yes Homebuyers
"Personal and efficient -
amazing company"
"the best way to sell a house"
"
On today's release of Halifax's latest House Price Index:
Whilst showing a buoyant quarterly and annual rate of house price growth, today’s figures also suggest the first slip in monthly values since summer.
Over-optimistic sellers
Why? Because sellers have perhaps been rather too optimistic in their pricing having been buoyed by the hype of the stamp duty holiday.
Over the last few months, buyers had been happy to go that little bit higher to secure a property given the saving they were going to make. Unfortunately, many are starting to realise that completing in time to actually secure this saving is looking very unlikely.
As a result, they are now reigning in their spending and sellers are having to adjust to lower prices in order to secure a sale.
We've had a rise in enquiries too, with sellers contacting us in an attempt to sell their house fast after they've struggled to find a buyer on the open market.
Price renegotiations may start too
It's even beginning to look like many home buyers will be looking to renegotiate money off already-agreed purchases if they don't manage to complete before the stamp duty deadline comes into force. This will put even more downward pressure on prices.
As the vaccine rollout continues, this month's House Price Index may be our first glimpse of the current pandemic turning into the recession we've unfortunately been expecting.
"