Properties having prices reduced whilst on the market at highest level for 6 years according to Home.co.uk

July 12, 2018

Latest Home.co.uk Asking Price Index report- July 2018 headlines ‘Price Cutting Nears 6-Year High’.

The report reveals that home prices are basically static overall, rising a mere 0.1% this month. The total number of properties having their price reduced whilst on the market at highest level since Oct 2012.

According to Home.co.uk the number of properties on the market continues to grow overall, driven mainly by supply surges in the East, South East and South West. By way of contrast to the woes of the South, the northern regional property markets are thriving, as is Wales.

Doug Shephard, Directorat Home.co.uk said:
“So how long will London prices keep falling? This is a key question for the UK market as a whole, as history tells us that what happens first in London happens later to the rest of the regions.

“The answer could be quite simple: when rental yields return to attractive levels. For that to happen, either prices must come down or rents must rise or both. In fact, the current trends show both processes are occurring already, but slowly. Prices have fallen around 2.7% over the last year and rents have risen 3.0% at the same time. However, the typical gross yield for London (around 3.8%), whilst improving, is still much less attractive than in many other parts of the country. In Prime Central London, it’s much worse. Yields in the North and West are much higher and that is what is driving those markets. In Leeds, for example, the typical yield is an attractive (and reasonably profitable) 6.0%. ” more….

Read the Home.co.uk Asking Price Index report 12th July 2018 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

Kerb appeal
Estate Agent Talk

Why November and December are the best and most affordable months to buy

Buyers and sellers looking for the right time to move can consider top reasons from property experts to start the process this November and December. The autumn and winter months may not be the first that come to mind when considering a move, but potential buyers and sellers can be reassured by the experts that…
Read More →
Breaking News

Farmers protest outside Westminster today in anger at the IHT ongoing debate – expert legal view

With today’s news about farmers set to protest outside Westminster in anger at the IHT ongoing debate, Tom Gauterin, Director at national law firm Freeths, said: “Although it is good to hear Mr Reed last week suggest that the Government is listening to farmers, today’s protests would suggest otherwise with the extent of their concerns…
Read More →
Love or Hate Rightmove
Breaking News

Bank Rate cuts boost optimism for 2025 despite Budget pause

Average new seller asking prices drop by 1.4% (-£5,366) this month to £366,592, a bigger fall than the usual, seasonal 0.8% drop seen at this time of year, likely due to pre- and post-Budget jitters However, despite the dampening effect of the Budget, market activity remains stronger than last year as Bank Rate falls: The…
Read More →
Breaking News

How to market to Estate Agents UK

The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More →
Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →