Discounts have stabilised in London and the adjacent commuter areas according to Hometrack
Latest Hometrack UK Cities House Price Index report – June 2018 published today reveals UK city house price inflation 4.6% year on year ranging from +7.6% to -2.8%.
Manchester is registering the highest annual growth rate (7.4%), followed by Liverpool (7.2%), Birmingham (6.8%) and Leicester (6.5%) according to Hometrack.
The report states: 3-month growth rate in London increases as sellers become more realistic on pricing. The discounts from asking prices in London are narrowing which is a positive for sales volumes.
According to Hometrack over the first half of 2018 the level of discounting to achieve a sale has started to narrow in inner London to 6.7%. Discounts have stabilised in outer London and the adjacent commuter areas. This is consistent with less downward pressure on prices.
Read the Latest Hometrack UK Cities House Price Index report – June 2018 in full click here.