Properties having prices reduced whilst on the market at highest level for 6 years according to Home.co.uk

July 12, 2018

Latest Home.co.uk Asking Price Index report- July 2018 headlines ‘Price Cutting Nears 6-Year High’.

The report reveals that home prices are basically static overall, rising a mere 0.1% this month. The total number of properties having their price reduced whilst on the market at highest level since Oct 2012.

According to Home.co.uk the number of properties on the market continues to grow overall, driven mainly by supply surges in the East, South East and South West. By way of contrast to the woes of the South, the northern regional property markets are thriving, as is Wales.

Doug Shephard, Directorat Home.co.uk said:
“So how long will London prices keep falling? This is a key question for the UK market as a whole, as history tells us that what happens first in London happens later to the rest of the regions.

“The answer could be quite simple: when rental yields return to attractive levels. For that to happen, either prices must come down or rents must rise or both. In fact, the current trends show both processes are occurring already, but slowly. Prices have fallen around 2.7% over the last year and rents have risen 3.0% at the same time. However, the typical gross yield for London (around 3.8%), whilst improving, is still much less attractive than in many other parts of the country. In Prime Central London, it’s much worse. Yields in the North and West are much higher and that is what is driving those markets. In Leeds, for example, the typical yield is an attractive (and reasonably profitable) 6.0%. ” more….

Read the Home.co.uk Asking Price Index report 12th July 2018 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

Breaking News

Sellers of larger homes make £122.5k average capital gains, crushing the gains from flats

Sellers of detached homes made £122,500 in capital gains when selling their home over the last 18 months while flats yielded an average gain of £27,000 Sellers in England and Wales made an average gain of £72,000, a 38 per cent increase in value from when they bought the property The average seller in London…
Read More →
Breaking News

London’s second homeowners face £16,446 CGT bill

London’s second homeowners face £16,446 capital gains tax bill, but prime London sellers escaping unscathed The latest research from Enness Global has found that whilst the London property market remains subdued, the city’s second homeowners could still be hit with significant costs when exiting their investments, with the average seller now facing a capital gains…
Read More →
Love or Hate Rightmove
Estate Agent Talk

Rightmove launches new webinar to equip agents with market leading insights and business-boosting strategies

Rightmove, the UK’s largest property platform, is launching a new webinar to equip agents with the latest market intelligence and profit-boosting strategies to accelerate sales and improve conversion rates. The webinar titled, ‘From pitch to profit: Competing on more than just fee’, will take place live on Friday 17th October at 1pm, exclusively for Rightmove…
Read More →
Estate Agent Talk

60% of homeowners admit to stress & sleepless nights

Managing your mortgage and mental health as 60% of homeowners admit to stress and sleepless nights The latest insight from award-winning mortgage adviser, Alexander Hall, has shown that for the majority of homeowners, their mortgage is their single largest financial worry, with 60% stating that their mortgage worries have impacted their mental health at one…
Read More →
Commercial Agent Talk

Improve Tenant Satisfaction with Expert Commercial Property Management

In the world of commercial real estate, tenant satisfaction can make or break a property’s success. Happy tenants are more likely to renew leases, recommend the property to others, and take better care of the premises. However, achieving and maintaining tenant satisfaction requires more than just a well-maintained building—it takes expertise, communication, and a strategic…
Read More →
Breaking News

Attic bedrooms can boost the price of a home by a quarter

Latest research from Nationwide reveals how home improvements can boost property prices in 2025 Analysis based on Nationwide’s HPI data shows extensions or loft conversions with a bedroom can increase value by up to 24% But kitchen and bathroom renovations most popular improvements amongst homeowners in last five years 34% made green improvements, such as…
Read More →