“With wage growth falling, inflation biting and savings stagnating, home buyers are feeling the pinch”

Search Acumen comments on ONS House Price Index, December 2017

Andy Sommerville, Director at Search Acumen, comments:

“With real wage growth falling, inflation biting and savings stagnating, many prospective home buyers are likely to be feeling the pinch.

“Although house price growth may not be rocketing, having wavered slightly around the 5% mark for the past six months, wider economic factors such as inflation and wage stagnation are likely to be taking their toll on hopeful homeowners, nudging property prices out of the parameters of affordability for many.

“House price rises continue to outpace real wage growth, yet this stable house price growth is also providing a rare dose of certainty in our wider economy. While this growth rate is no cause for celebration for prospective homeowners, it is certainly the lesser of two evils as any drop in growth would roughly equate to a vote of no confidence in the UK economy.”

This article was submitted to be published by Search Acumen as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

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