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Will house prices rise or fall this year?

Buying or selling a home can feel like an endless merry-go-round for anyone caught up in a tortuous house move.

In one £1.5m property in East Sussex, the fairground nature of many property transactions has been taken literally. The converted Victorian bathhouse is filled with funfair nostalgia. The home, which features a retro bowling alley, a basketball arcade game and a coconut shy above the sink, went on the market in 2019.

It is not just the features which were unusual. The very fact it was listed for sale was uncommon too. Listings in the UK housing market last year were down 8% on the previous year, according to property portal Rightmove.

The dominant feature of the market in the last 12 months has been caution. Many potential sellers decided to stay put amid political and economic uncertainty, amid the Brexit debate and general election. A carnival-themed home may feel like the appropriate metaphor for the goings-on in Westminster last year. While this put off sellers, demand among potential buyers …

Full Article here – https://www.bbc.co.uk/news/business-50852981?intlink_from_url=https://www.bbc.co.uk/news/topics/cpzp21mjmggt/mortgages&link_location=live-reporting-story

Article originally published by ‘BBC news’. Greenfields Financial Management is not responsible for its content or accuracy and may not share the author’s views. News and research are not personal recommendations to undertake financial decisions or deal.