Hometrack points to market conditions weakening in south eastern England.
Latest Hometrack UK Cities House Price Index report – April 2018 published today reveals that UK city house prices have grown by 4.9% over the last year.
City house prices have increased 2.9% in the last three months compared to a 0.5% decline in 2017Q4 when price falls across London impacted headline growth. Large regional cities in the midlands, northern regions and Scotland continue to register annual growth above the 5-year average according to Hometrack.
The Hometrack report states: Market conditions are weakening in south eastern England but the size of discounts is less severe as prices are adjusting in weaker demand rather than as a result of adverse economic impacts. However, stretched affordability, Brexit uncertainty and multiple tax changes have impacted demand and mean sellers having to accept larger discounts to asking prices.
Read the Hometrack UK Cities House Price Index report – April 2018 published 30th May 2018 in full click here.