HOUSE prices in Kirklees are falling at their fastest rate for two years – mirroring the national picture.
More buyers are staying away from the housing market after a spate of problems, including the introduction of Home Information Packs and interest rate rises.
Local estate agents predict the national problems will mean more people will start ‘buying-to-live’ rather than letting out their property.
Alex McNeill, of Bramleys Estate Agents, said: “The local picture very much mirrors the national reports. We have noticed this since May.
“We have had nine years now of successive growth and it’s coming to an end.
“We always knew this slowdown would happen, but it was a question of when.
“The housing market can’t keep going up and up, at some point it’s got to level out or possibly come down a bit.”
The Kirklees and Calderdale areas are still stable, but the introduction of the Home Information Packs (HIPS) earlier this year has led to fewer family homes coming on to the local market.
Mr McNeill added: “There has been a local slow down and houses are taking longer to sell than they were a year ago.
“We are seeing less three and four bed homes, which I believe is a cause of the HIPS.
“Unless people really need to sell, they are staying put for now.”
The current average house price in Kirklees is £150,977 and in Calderdale £145,728 – well short of the national average of £210,578.