House price growth in London below city average

House price growth in London is lagging behind the city average for the UK, edging up just 0.2% in August, compared to the 20 city average of 1.9%. However, data also revealed that mortgages for home purchases in London have been increasing slowly following the lower numbers seen since late 2014, suggesting that the decline in London housing sales has bottomed out. “We do not expect house price growth to increase but builders and agents in London will welcome any improvement in market activity,” the House Price Index report said. August was the first time since 2012 that no big city saw annual property growth rise above 5%.

City AM (27/09/2019)