House price growth falls to 0.8% due to sluggish London market

Ryan Bembridge

November 13, 2017

House price growth in England and Wales slowed to 0.8% in the year to October 2017 after prices fell by -2.4% in London, the LSL Property Services/Acadata house price index has found.

While the London prices have dropped they rose in every other region, as growth for the rest of England and Wales stood at 2.8%.

They increased by 4.6% in the North West, 4.4% in the South West and 3.4% in the West Midlands.

Scottish house price growth exceeds the rest of the UK

Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “It’s a challenging time for the market, but outside London many regions are showing some resilience.

We have yet to see how this will change in the months to come, particularly following the Autumn Budget when it has been rumoured the Chancellor will make announcements that may impact the housing market.

“The good news, however, is that housing is clearly on the political agenda and any action that supports buyers and sellers – and positive movement in the market – has to be encouraged.”

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