Bubbly London prices slowly deflating according to Home.co.uk
The latest Home.co.uk Asking Price Index report – March 2018 released today headlines ‘North West Prices March On Up’
The report reveals: Strong price growth in the North West, East Midlands, East and Yorkshire., however London prices slide yet again and South East prices stall.
Doug Shepherd, Dircetor at Home.co.uk said:
“Ultra-low interest rates have had their inevitable effect. Region by region, super-cheap mortgages have driven home valuations through the roof (and made the banks’ post-crisis balance sheets look healthy once again).
“Buy-to-Let, the ‘no-brainer’ investment of the decade, accentuated the London property bubble and propelled a wave of property investment that spread out through the Home Counties then to the West and North. In fact, the North is only now in the early stages of recovery (soon to be boom) nearly two years after prices peaked in Greater London (May 2016).
“Now there is considerable talk of raising interest rates. Perhaps a rise in May? Perhaps by a quarter point? Surely not more, as the golden goose that is the UK housing market would be cooked. The North would never achieve any sort of meaningful recovery in prices and the London market would seriously tank: all to be avoided.” more…..
Read the Home.co.uk Asking Price Index report – March 2018 in full click here.
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