House prices fall overall in August in England and wales according to Home.co.uk
Latest Home.co.uk Asking Price Index report – August 2018 headlines ‘Home Price Falls Spread Across More Regions’.
According to Home.co.uk, Home prices in England and Wales fell overall by 0.3% this month, the largest falls were in London and the South East.
The report reveals that home prices have experienced a downward correction in the face of rising supply and falling demand, Rising supply has led to market saturation in the East of England, and this region looks set to join London and the South East in negative year-on-year growth before the end of the year.
Doug Shephard, Director at Home.co.uk said:
“So Mark Carney and his committee of rate setters at the Bank of England actually went through with a mini-hike of +0.25% this month.
“Okay, so it’s not going to ‘break the bank’ for most property owners and investors, but with London prices on the ropes and many other regions set to follow suit, the timing is far from great for the UK property market. Moreover, the last time they did a quarter point rise, GDP growth stopped dead for three months.” more….
Read the Home.co.uk Asking Price Index report – August 2018 in full click here.