House prices continue to remain on the decline as the property market weakens. Currently, the average house price sits at £279,569, with prices down 4.6 per cent when compared to August last year, according to the latest Halifax house price index.
A report by KPMG said that the property market was “adjusting to high interest rates” with mortgage approvals falling by 22 per cent and property transactions down by 16 per cent.
While this is bad news for those looking to sell, it does provide an opportunity for those looking to buy their first homes. Here’s what you need to know falling prices and where the cheapest areas to buy are.
Source: inews.co.uk
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