London House Price Growth slows substantially in October according to LSL/Acadata
Latest LSL Property Services/Acadata House Price Index report for England and Wales – October 2018 reveals that annual price growth continues to slow but there are monthly price rises again.
According to the report house prices rebounded in October, up 0.4% – the first increase since February. The annual rate of price increases continued to slow, however, dropping to just 1.0%.
The report states that in London annual price growth has slowed substantially in the last month, falling to just 1.8%, yet there has still been an increase of £10,889 in the last twelve months with the average price in London now standing at £620,571.
Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents said:
“Whilst price growth has slowed considerably in England and Wales, the fact that there is a relatively strong economic backdrop, and there have been three consecutive months of growth, means it’s not all doom and gloom.”
Read the LSL?Acadata HPI report – October 2018 in full click here.