Posted by AdviserDirect on 07/03/2019

London house prices slide for eighth quarter in a row

London house prices slide for eighth quarter in a row

House prices have dropped in London for the eighth quarter in a row, pushing the average value of a home in the capital down 2.6% over the past two years to £465,722.

Figures for the three months to June from Nationwide showed London and the south-east were the worst performers in a national housing market that has managed to keep growing through the past three years of Brexit turmoil, but only at a modest pace.

The annual national growth rate in prices slipped to 0.5% last month from 0.6% in May and 0.9% in April, pushing the average cost of a UK home to £216,515. Most analysts said they expected only modest increases during the rest of 2019.

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