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First hint of negative movement for post-pandemic house prices

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The unsustainable rates of house price growth since the introduction of the stamp duty holiday are starting to give way to negative movement.This is hardly surprising given the quick-fix nature of the government’s approach. Rather than addressing the housing crisis head-on, they’ve once again chosen to stimulate prices in the short term by increasing the imbalance between supply and demand, so that when the dust settles there are at least some positive indicators of economic performance during the pandemic.

Commentary: Reaction to Halifax House Price Index

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The unsustainable rates of house price growth since the introduction of the stamp duty holiday are starting to give way to negative movement.

This is hardly surprising given the quick-fix nature of the government’s approach. Rather than addressing the housing crisis head-on, they’ve once again chosen to stimulate prices in the short term by increasing the imbalance between supply and demand, so that when the dust settles there are at least some positive indicators of economic performance during the pandemic.

It's a very cynical and politically-driven approach, which is ultimately going to be damaging to the wider economy and prosperity in the long run.

The incentives have created log jams in the property industry, with many conveyancers leaving the profession altogether with the pressure that's been forced upon them, and continued demand for cash house buying services shows just how dysfunctional the market has been during this artificial boom.

"

The unsustainable rates of house price growth since the introduction of the stamp duty holiday are starting to give way to negative movement.

This is hardly surprising given the quick-fix nature of the government’s approach. Rather than addressing the housing crisis head-on, they’ve once again chosen to stimulate prices in the short term by increasing the imbalance between supply and demand, so that when the dust settles there are at least some positive indicators of economic performance during the pandemic.

It's a very cynical and politically-driven approach, which is ultimately going to be damaging to the wider economy and prosperity in the long run.

The incentives have created log jams in the property industry, with many conveyancers leaving the profession altogether with the pressure that's been forced upon them, and continued demand for cash house buying services shows just how dysfunctional the market has been during this artificial boom.

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