Record employment. Surging pay. Ultra-low interest rates. It sounds like the perfect time to buy a house. Prices should be booming. Yet prices in the three months to September were up just 0.2pc on the year, according to Nationwide. So what is going on?
The trick is to look beyond the headline numbers. Britain’s housing market is often spoken of as if it is one beast, but it is not a unified entity at all.
Instead it is very much a local market. Buyers know roughly where they want to live, tweak it depending on variations in local prices, schools, jobs, family concerns and more. The price in London is of no interest to a buyer in, say, Leeds. The cost of a flat in Burnley does not matter to a mover in Brighton.
Purplebricks Group plc (LON:PURP) engages in estate agency business in the United Kingdom, it provides services relating to the sale & lettings of properties.