Prices falling across 20 local authorities in London according to Hometrack
Latest Hometrack UK Cities House Price Index report – May 2018 reveals that house price inflation is at 4.6% year on year, with prices falling across 20 local authorities in London.
House price growth across the London City index is now 0.4% over the last 12 months. Prices are falling in nominal terms by up to -3.2% across almost half of the 46 local authority areas covered by the index according to Hometrack.
Hometrack expects that over the next 12-24 months the gap between London and other cities to narrow further, mirroring the trend over 2002-2005.
The report states: House prices in regional cities would need to rise by as much as 25% to take the price relative to London back to long run, historic benchmarks.
Read the Hometrack UK Cities House Price Index report – May 2018 in full click here.