House price growth in UK remains still in October

srThe property growth in UK slowed down to 4.6% from 5.3% in October with values flat month on month. According to the Nationwide, the average price of a home to £205,904 and suggests that the introduction of a 3% stamp duty surcharge on additional properties in April may still be having an effect.

Alex Gosling, chief executive officer of online estate agents House Simple says: “The labor market is strong, supply is still low and buyer confidence hasn’t dissipated. Some will use these latest figures as evidence that the Brexit vote is finally feeding through to the housing market. The fallout from the EU referendum doesn’t seem to be at the front of buyers minds. There are still plenty of people looking to purchase, but it just feels like an overpriced market has finally taken its toll. Property transactions are down on levels we would normally expect this time of the year and it may be that buyers are simply taking a breather until the New Year.”

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