Prices continue to slide in London and South East according to Home.co.uk

April 12, 2018

Latest Home.co.uk Asking Price Index report – April 2018 released today headlines ‘Oversupply Exacerbates London and South East downturn.’

Top of the headlines list in the report is: ‘London and South East prices slide again.’

The report mentions that: ‘Home prices may have nudged up this month across England and Wales but red warning lights are flashing as market conditions in London and the South East deteriorate. Prices continue to slide and marketing times are rising but, most worrying of all, is that the supply of property for sale has risen to near 7-year highs in both regions, and this rising trend shows no signs of abating. In stark contrast, Wales, the East Midlands, West Midlands, the North West and Yorkshire have thriving property markets.’

Read the Home.co.uk Headlines and Summary sections in full click here.

Doug Shephard, Director at Home.co.uk said: “And so we move to the next stage of the property cycle. The downturn that began in London is spreading out to other regions.

“The Midlands and South West look to be peaking and only the far North, West and Wales show opportunities for significant growth in the near term.

“The question posed by such a situation is, of course, ‘When will London prices ‘bottom out’?” Basic economics would suggest that demand must rise or supply must stop growing. Since demand is allied very closely to mortgage interest rates, it’s hard to imagine that aspect improving. Hence, the key signals to detect the bottom of the cycle must be when supply stops increasing and stock levels stabilise. Looking at the current trends, this could be a long while coming.” more….

Read the Home.co.uk Asking Price Index – April 2018 report in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Stay Safe With Aluminum Ladders: 5 Facts About Lightning Attraction

Whether redecorating, putting items away in storage, or cleaning windows, there are many reasons why you may need ladders. They’re likely an item you have tucked away in your garage or, if a contractor, a tool you carry to and from work. Although highly beneficial, it’s essential to use this device correctly. Why? Aluminum is…
Read More →
Letting Agent Talk

Some Instances Where Landlords Are Liable for Slip and Fall Accidents

In bustling urban environments, slip-and-fall accidents can disrupt lives, leading to injuries and legal complexities; landlords are responsible for maintaining safe premises. From icy sidewalks to poorly maintained staircases, instances where landlords may be held accountable for slip and fall accidents are diverse and nuanced. Understanding these scenarios is a matter of legal obligation and…
Read More →
Breaking News

Sales agreed up 12% on last year despite annual mortgage costs 61% higher than 2021

UK house prices broadly static but sales volumes are up 12% year on year UK house price inflation unchanged from last month at -0.2% Almost two thirds (64%) of all homes are in local markets with annual price falls, down from 82% last October with a clear north-south divide emerging. Higher mortgage rates continue to…
Read More →
Estate Agent Talk

Understanding House Value in the UK: A Simple Guide

Everyone talks approximately assets expenses, from the records headlines shouting about the contemporary marketplace traits for your friends debating whether or no longer now is the proper time to shop for or sell. It might possibly appear to be a jumble of numbers and possibilities, but at the heart of it, knowledge house cost isn’t…
Read More →
Estate Agent Talk

What does latent defects insurance cover?

When a building is insured during the construction phase, coverage doesn’t necessarily end once the final brick has been laid. Failures and problems with design and workmanship can go unnoticed for several months or even years, leading to larger issues while someone occupies the building. Fixing such large structural defects can be extremely costly, so…
Read More →
Breaking News

Breaking Property News – 24/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Smart Spaces delivers the world’s first implementation of HID’s mobile credentials in Google Wallet at Workspace Mobile access control integration makes entry to The Light Bulb building effortless for customers London, April 23, 2024 – Smart Spaces announces today that it has partnered with trusted identity provider,…
Read More →