Housing Loss & Gain

On the day the expected news arrives that house prices have dropped sharply in November by a massive 1.1%, we also see the Government has offered local authorities £732m to go and build new homes.

The slowdown in the market has seen a few wobbles from the leading house builders and has also put off buyers coming to the market.

Chief economist at the Halifax reports that whilst there is concern in the market, "Strong market fundamentals, a structural housing supply shortage and pent-up demand from a large number of potential first-time buyers will support house prices, preventing a sustained and significant fall,"

Meanwhile in an attempt to undermine this theory the Government is expecting Local Authorities to fund 3 million new homes by 2020.