ክኢላታት ብዛዕባ ዋጋታት ገዛ እንታይ ኣስተብሂሎም ?

What’s Behind The Drop?

A 1.9% decline in asking prices coincides with an era of record wage growth coupled with relaxed mortgage rates. Most of the UK has been grappling with inflated borrowing costs in the wake of multiple interest rate hikes by the Bank of England. A ripple effect can be observed with Halifax, the lender, reporting a 0.3% drop in average house prices in July compared to June.

However, while the downtrend in asking prices is undeniable, Rightmove emphasizes that the average housing prices are still a staggering 20% higher than what they were in the pre-pandemic era. Tim Bannister, director at Rightmove, points to the persistent hurdles first-time home buyers face. “There are still significant challenges in saving up enough for a deposit and affording higher mortgage payments,” he mentions.