Don’t tell generation rent the fall in house prices is bad news
Estate agents face a quiet house-buying season with demand and mortgage lending in decline
April traditionally marks the start of Britain’s house-buying season. Once the daffodils come out, estate agents ready themselves for a rush of prospective buyers.
Not this year, though. The body that represents estate agents, the Royal Institution of Chartered Surveyors, says demand for housing has now fallen for 12 months. New buyer inquiries are down and that is having a knock-on effect in the mortgage market. A survey by the Bank of England of lenders shows a balance of 29% reporting a fall in demand for loans secured against property.