Sep
20

BRITAIN’S HOUSING MARKET FINALLY COOLS AS PROPERTY PRICES IN LONDON FALL AT THEIR FASTEST RATE IN NEARLY A DECADE

Britain’s housing market is finally cooling down as figures out today reveal that London’s property prices and rents are both falling.

Prices in the capital have slumped by 0.7 per cent in the year ending in July – the lowest rate since September 2009.

While rents in the city have slumped by 0.3 per cent in the past year, according to analysis by the Office for National Statistics.

Nationally, the property bubble is deflating, with prices increasing by 3.1 per cent in the year of July 2018 – its lowest rate since August 2013.

Read the full story here

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