Prices continue to slide in London and South East according to Home.co.uk

April 12, 2018

Latest Home.co.uk Asking Price Index report – April 2018 released today headlines ‘Oversupply Exacerbates London and South East downturn.’

Top of the headlines list in the report is: ‘London and South East prices slide again.’

The report mentions that: ‘Home prices may have nudged up this month across England and Wales but red warning lights are flashing as market conditions in London and the South East deteriorate. Prices continue to slide and marketing times are rising but, most worrying of all, is that the supply of property for sale has risen to near 7-year highs in both regions, and this rising trend shows no signs of abating. In stark contrast, Wales, the East Midlands, West Midlands, the North West and Yorkshire have thriving property markets.’

Read the Home.co.uk Headlines and Summary sections in full click here.

Doug Shephard, Director at Home.co.uk said: “And so we move to the next stage of the property cycle. The downturn that began in London is spreading out to other regions.

“The Midlands and South West look to be peaking and only the far North, West and Wales show opportunities for significant growth in the near term.

“The question posed by such a situation is, of course, ‘When will London prices ‘bottom out’?” Basic economics would suggest that demand must rise or supply must stop growing. Since demand is allied very closely to mortgage interest rates, it’s hard to imagine that aspect improving. Hence, the key signals to detect the bottom of the cycle must be when supply stops increasing and stock levels stabilise. Looking at the current trends, this could be a long while coming.” more….

Read the Home.co.uk Asking Price Index – April 2018 report in full click here.

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.

You May Also Enjoy

Breaking News

Housing market gets off to its strongest start in three years, with new sales agreed up 12 per cent on 2024

The 2025 sales market has got off to a stronger start than in 2024 or 2023 with buyer demand up 13 per cent and 10 per cent more homes for sale Rising sales are supporting UK house price inflation which is +2.0 per cent in the year to December 2024, compared to -0.9 per cent…
Read More →
for sale sign london
Breaking News

Westminster council must outline how their proposals on property boards will not hinder market

Westminster City Council must explain how their proposals to renew the existing Regulation 7 Direction and expand it to the whole borough will not hinder the sales and lettings markets, Propertymark argues. At present, some areas of Westminster are subject to a Regulation 7 Direction, which means consent from the Council is needed to display…
Read More →
Breaking News

National Federation of Builders View on Chancellor’s Speech

At the Autumn Budget 2024, Chancellor Reeves scaled back her interference in the planning process. However, in her speech today, she returned to the position that a well-functioning planning system is crucial to not only enabling growth but, more importantly, sustaining it. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), commented: “The…
Read More →
Letting Agent Talk

Landlords and Tenants: A Balanced Relationship in the Private Rental Sector (PRS)

New findings from Leaders Romans Group’s (LRG) latest survey reveal a balanced picture of landlord-tenant relations in the UK. Contrary to negative stereotypes often portrayed, the data shows that tenants view their landlords positively while highlighting areas for improvement in communication and responsiveness. The survey found that 55% of tenants believe their landlord provides quality…
Read More →
Estate Agent Talk

Government Correct to Head Off Climate and Nature Bill

The ‘Climate and Nature Private Members’ Bill’, brought forward by Dr. Roz Savage MP, seeks to set new legally binding targets for climate and nature, as well as give the Secretary of State a duty to implement a strategy to achieve these targets. The National Federation of Builders (NFB) has worked closely with Government’s old…
Read More →
Breaking News

Property expert issues warning ahead of stamp duty changes – this is how YOU could avoid paying more

New stamp duty rules are set to come in from April which could catch out many homebuyers and leave them paying thousands more than planned. Currently, first-time buyers do not pay any stamp duty on homes costing up to £425,000, while the threshold for other buyers is £250,000. But from 1 April 2025, the threshold…
Read More →