The United Kingdom housing market is dying out and prices in London are continuing to fall. This is happening after years of runaway growth. Regional prices over the last three months have been changing a lot. There are many factors that are contributing to this market flat line. There has been a pre Christmas lull in activity. There is also a lot of Brexit related uncertainty. A lot of people do not think that the market will change anytime soon.
Key Takeaways:
- The United Kingdom’s housing market is stabilizing, although it experienced years of growth previously.
- However, the price of London’s housing market is decreasing due to the high prices of the city and concerns about interest rates.
- The decline of housing in United Kingdom are due to Christmas and the Brexit negotiations.
“A monthly survey by the Royal Institute of Chartered Surveyors showed its index fell to zero in November from +1% in October, broadly consistent with no national price change over the period, while price falls are now widely-reported in London.”