Hannah Bashford, director of mortgage brokerage, Model Financial Solutions said: "Everyone has checked out for Christmas. We’re seeing most people adopt a wait-and-see and let’s-look-seriously-in-January attitude.”
“This has stopped the market in its tracks and it’s no wonder house price growth has slowed,” she added.
In Bashford’s view, cautious surveyors and a rise in down valuations are also causing price adjustments.
“This is not a bad thing, as house prices have been over inflated since the pandemic and to ensure first-time buyers have a chance of buying by the time they’re 37 — the average age of a first-time buyer — prices had to come down.
“January is going to be busy when all the festivities are over and people want a project for the new year,” Bashford said.
jane.matthews@ft.com
