House prices could remain flat for the next seven years figures out today reveal.
According to the latest Rightmove House Price Index, this year’s traditional spring bounce has ground to a halt and sellers have only belatedly realised buyers are unwilling or unable to pay ever increasing prices. The report says while there is strong evidence of a soft landing in the housing market if the current trend continues it will take seven years for the average wages of first time buyers to rise enough to be able to afford to pay their mortgage. Annual house price inflation fell from 4.9% to 2.4% in June says Rightmove, with wage inflation exceeding the rise in house prices...
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