Activity in the housing sector has remained slow despite falling interest rates due to a lack of
Founder of property website Briffy.com David Amstell stated that finance is “still quite hard to come by” for most potential home buyers, with the recent base rate cuts not being passed on to consumers.
He commented: “Even though interest rates are at a fantastically low level, it is not reflected in the high street.”
He noted that while 95 per cent
This means typical borrowers will need to find 30 per cent of a home’s value as a deposit before acquiring a homeowner
Meanwhile, house prices dropped by 1.7 per cent last month, according to figures from Halifax.