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London market seems to be shaking off its malaise

The latest England and Wales monthly LSL Acadata House Price Index report – May 2018 headlines ‘New Builds Bolster London’.

The report reveals that the UK housing market remained resilient showing a very slight rise in the annual house price rate in May (from 2.1% to 2.2%) following 11 months of falls.

The average house price in England and Wales is recorded at £305,654, up more than £6,000 on a year ago, when prices remained below the symbolic £300,000 mark.

Transactions are down on the levels of last year, however, by 6% in the first five months compared to 2017.

Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents said:
“Whilst the market may seem subdued, we should welcome the fact that every region in the UK is still growing and that the London market seems to be shaking off its malaise.”

Read the latest England and Wales monthly LSL Acadata House Price Index report – May 2018 in full click here.

 

Allen Walkey

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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