London Real Estate Gripped With Brexit Fears
The prices of houses have been falling at a very fast rate in this decade. As per the index of Nationwide House Price, the prices of houses in London as compared to 2018 dropped 3.8 % over the initial three months of 2019. This has been the biggest fall since the year 2009. Britain’s mortgage lenders said that the average price of houses in London during 2019’s first quarter was £455,594. The decline is the seventh successive quarter where prices have continued to fall. Robert Gardner, chief economist has blamed the high prices for this. Gardner said on Friday that the activity of housing market all across the UK was stable but the enquiries from the new buyer have continued to fall which has hit its lowest since the year 2008. Since the year 2012, England has recorded its first price fall annually, with prices falling 0.7% as compared to last year’s first quarter. Wales, Scotland and Northern Ireland have all relished the gain in the prices.
Tags : INTERNATIONAL