Days of soaring house prices ‘long gone’, bank says

London has moved out of "bubble-risk" territory for the first time in four years, according to a new UBS report, which however warns that the heady days of soaring house prices in the capital - which are around 10% below their mid-2016 peak - are long gone. Claudio Saputelli, head of real estate at UBS Global Wealth Management, said: “Many households simply lack the funds required to meet the banks’ financing criteria, which we believe poses one of the biggest risks to property values in urban centres.”

City AM (01/10/2019)