Zoopla Comments On House Price Decline

 

A fall in house prices in November adds to an accelerated rate of decline during recent months, prompting opinion from industry figures.

Halifax reported that house prices fell 0.1% in November and the fall comes despite indications that banks and lenders are loosening their criteria for mortgage products.

Director of property portal Zoopla.co.uk, Nicholas Leeming, commented: “Even though lenders slackened their grip on credit in November, it wasn’t enough to change the market’s direction.

“The mortgage deep freeze is cooling house prices, too. It’s not a question of weak sentiment, but lack of loans. If the lenders aren’t freer with finance, prices could stumble again in the new year.”



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