Last month home prices in the UK and particularly in London have soared at a rate that exceeds the level of growth in prices for the last year. With a 0.6 percent rise in home property values, the average cost of a home has risen to approximately 297,000 British pounds, according to Acadata and LSL on Monday. Yet the rate of increase in home prices has not risen substantially, showing a drop to 2.4 percent which is a low compared to similar figures from 2013 and although home prices in London saw a 0.4 percent increase compared to figures from December.

It is a time of challenge for the property market in London according to Acadata. London home prices have not been as low as they are for almost half a decade and home sales in the historic city have dropped to 22 percent for a period of three months.

Brexit and changes in the UK tax structure also have made dramatic impacts on home sales and prices in London. Too many homes have become unaffordable for the average wage earner.

Based on figures from Lloyd’s Bank, home prices in London have been exceeding annual incomes in the city by a factor of ten. In Haringey for instance, the average price of a home, about 140,000 pounds, exceeds the average take home wages by more than 90,000 pounds. In terms of regional economy 90 percent of the disparities involve London’s housing market.

Read more: UK house prices rise at fastest for a year as London market rebounds – The Independent