House Prices Fall In London Amid A General Slowdown Across The UK
According to the National Office for Statistics, London house prices fell by 1.2 percent between September and October 2016 – bringing the annual rate of growth in the capital down to 7.7 percent.
The figures are attributed to uncertainty over Brexit, and fewer houses being bought by landlords following the hike in Buy-to-Let Stamp Duty. But Howard Archer, resident economist at HSI Global Insight suggests the negative effects of buyer reticence may be somewhat countered by the number of houses on the market, which is at a record low.
For more information on house price trends in the capital, read the article in the Telegraph here