Wages are getting lower and the prices of houses are dropping at a continuous rate. In various months there is an unsteady dip and rise in the prices thereby showing great instability in prices. Mortgages are not been approved and therefore there is not a great influx of new buyers inquiring about houses. While it is quite strange that more individuals are not lined up to inquire about new home ownership when the mortgage rates are at an all time low.

Read more: House price fall renews concern over cooling UK economy – The Guardian