The snap General Election appears to have exacerbated a slowing down of the housing market, as buyers and sellers adopt a ‘wait and see’ approach.

The town of Fraserburgh in Aberdeenshire has seen average house prices rise by more than any other seaside town in Scotland over the past ten years, according to new research from Bank of Scotland.

According to a new housing survey, 87% of homeowners in Britain believe that properties in their area will grow in value over the next six months, by an average of 7.8%.

Economic, demographic and housing market trends are triggering a change in home ownership in the UK, and as a result mortgage borrowing in older age is likely to move from niche to mainstream within the next decade.

UK house prices rose by an average of 4.1% on an annual basis, taking the average property value to £215,847, according to March’s edition of the UK House Price Index (UK HPI). On a monthly basis, house prices have fallen by 0.6% across the UK since February 2017.