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In the early months of 2018 there was a sizeable fall in the number of new instructions compared with previous years. The reduction in stock coupled with buyer demand held house prices throughout the beginning of the year.

According to the Office of National Statistics, house prices increased by three per cent indicating a sizeable slow down in growth rate since 2016. This drop in house price growth has mainly been driven by a slowdown in the South and East of England.

The soaring temperatures we experienced over the summer months saw less homeowners bringing their homes to the market and less viewers actively

looking, this is perhaps not surprising as house buying and selling wasn’t a priority for many people.

Sales activity in the UK housing market remained subdued, with chartered surveyors reporting a decline in newly agreed sales for the 16th month in a row. In the coming months it is more than likely to be more of the same with political uncertainties affecting confidence.

Our view is that Sheffield and surrounding areas are likely to continue to see small house price growths throughout the remainder of the year. Overall we would expect annual prices to rise from one to two per cent keeping roughly in line with inflation.