A twelve-monthly increase of 9.2% but a price dip of 1% against January has been indicated in the February numbers for the UK housing market. This fall in prices, the first since April 2009, were possibly triggered off by the cold weather and the termination of stamp duty concession in December. The above two factors seem to have weaned off many house buyers.
Despite the annual growth pattern being displayed by the UK property sector, apprehensions are being raised that the impetus might be waning. An improvement in the UK economy as a whole and better liquidity seem like the only solutions to the constantly sliding property rates. Since they can have far-reaching effects on the personal, business and investment markets in the short to medium term, a plunge in property rates is generally not desirable. What remains to be seen, is whether this decrease in the rates is just a temporary jinx or the start of a new trend for the UK property sector.
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