London’s residential property market stalls

London’s residential property market has stalled – with subdued house price growth and a sharp drop in housing completions, according to a new analysis published by Centre for London. House prices in the capital were shown to be falling by 1.4% in the final quarter of 2018 when compared to the previous year - a fourth consecutive month of falling prices, with transaction volumes falling by 12% during the same period. However, the same stats revealed that London’s rental market has seen increases in rents paid. “Lower house prices in some areas of the city have enabled more Londoners to buy their first home, but reduced supply is leading to increased rent levels, putting pressure on those who cannot afford to get on the ladder,” said Silviya Barrett, Research Manager at Centre for London.

24 Housing (13/05/2019)