Prices are not plummeting in the capital and surrounds, but rather sliding gently according to Home.co.uk

Written by Allen Walkey on - Breaking News -

Home.co.uk Asking Price Index report October 2017 released today headlines ‘House Prices Tick Up Despite London Falls.’

Top of the Home.co.uk headlines: Greater London prices slide for a third consecutive month, by 0.2%, pushing the year-on-year change into negative territory (-0.7%).

The drag effect of a weak London market means that the national average growth figure (3.2% YoY) weighs in at less than the rate of inflation as measured by the ONS (RPI ex housing) of 4.5% according to Home.co.uk.

Home.co.uk reveal that the most improved market over the last twelve months is the West Midlands, where Typical Time on Market has dropped by 12%. The South East stands out as the market that has slowed the most.

Doug Shephard, Director at Home.co.uk says: “Brexit or no Brexit, the London property market had to cool off. In fact, the process had begun long before the UK voted to leave the EU.

“Five years of massive house price inflation inevitably ended in the spring of 2016 with the beginning of the current corrective phase. Prices, of course, are not plummeting in the capital and surrounds, but rather sliding gently whilst monetary inflation does the rest.” more……

Read the Home.co.uk Asking Price Index report October 2017 in full click here.

Author: 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.

venitoo-advert-banner

Share
 

Recent Popular Articles


Strong performance for Barratt Developments


Barratt Developments PLC Half Yearly Financial report for the 6 months ended 31st December 2015. Strong performance reported in that half.  To see the report


"Granny Flats" now not to be included


The controversial new tax for buy-to-let and second homes introduced from  1st of April will not now include homeowners with self-contained "granny flats", the government


“Buy-to-let Tax cuts won’t put landlords off” says Waterfords.


Following the Chancellor’s summer Budget, in which he announced a substantial crackdown on mortgage interest tax relief, Brendan Cox of Waterfords says he does not


Prime Algarve Property.


The southern region of Portugal, The Algarve which is one of Europe’s most popular tourist regions,  it boasts some of the best beaches in the


First pre-election "debate"


Last night we saw the first  pre-election TV "debate" which strictly speaking was not exactly a debate, both Cameron and Milliband were both  seperately interviewed