UK Housing Market 'Pauses For Breath'

The UK housing market has paused for breath following a fall in buyer demand for new homes in July, the first monthly decline since January 2013.

As a result of this rebalancing in demand and supply, house price growth across the UK appears to be slowing down, with 49 per cent of people reporting an increase in prices in July – compared to 52 per cent in June and 56 per cent in May.

Simon Rubinsohn, from the Royal Institutes Chartered Surveyors (RICS) residential marketing survey, said: "The market in general is showing a greater degree of resilience, but that largely reflects that in some areas the recovery has only recently taken hold and affordability is rather less stretched."

Alan Yates, from the Accord Group, explained: "The demand for housing across the country remains high, but we are confident that off-site manufacturing offers the solution to increase the building of more homes, efficiently and to a higher quality, with less waste. We're delighted to demonstrate that two family homes can be built in a day using this technique."

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