House prices in England suffer their first annual slump since late 2012 to an average £255,683

0
14
House prices in England suffer their first annual slump since late 2012 to an average £255,683



HOUSE prices in England have suffered their first annual slump since late 2012.
The average £255,683 was 0.7 per cent less than last year — dragged down by the plunging London market.
PA:Press Association Plunging property prices in London have dragged down average prices across England to £255,683
Values in the capital fell 3.8 per cent from the first three months of 2018 to the first three of 2019 — their poorest showing for a decade.
It made London the worst performing region.
Prices there have now slumped for seven quarters in a row.
Yet they rose elsewhere — up 2.5 per cent in the West Midlands, 2.6 per cent in the East Midlands and 2.9 per cent in the North West, Nationwide Building Society said.
Chief economist Robert Gardner blamed London’s slump on previous boom years and tax hikes on buy-to-let homes.
He said: “Several years of out- performance has left affordability stretched. Policy changes in the buy-to-let market are also likely to have more of a drag in London.
CONSUMER CREW My husband died in 1992 – can I still claim the death in service lump sum? FAMILY MISFORTUNES How you can avoid huge bill hikes from council tax to energy tariffs HEATING UP Switch to cheap energy deal NOW to avoid £117 bill hike from Monday BONUS TIME 2 million workers to get pay rise from Monday as National Living Wage rises WAGES HIKE National living wage increase will see 2m Brits get a pay boost this weekend SHE’S MUM-BER ONE The best Mother’s Day restaurant deals, from Pizza Express to Domino’s
“Private rentals form a larger proportion of housing there than elsewhere.”
Across the UK, Northern Ireland had the biggest rise, up 3.3 per cent, said Nationwide. Scotland saw 2.4 per cent growth and Wales 0.9 per cent.
Ugly House to Lovely Home couple label their gifted Warwickshire property a ‘monstrosity’

LEAVE A REPLY

Please enter your comment!
Please enter your name here