Poll: London house prices to fall

According to a poll conducted by Reuters, London house prices will fall 1.7% this year and another 0.3% in 2019. Asking prices in London fell 1.7% this month from October, according to Rightmove. Along with Brexit uncertainty, a sharp increase in Stamp Duty Land Taxhas particularly affected the capital.“The high rates of SDLT will continue to stifle transaction volumes, especially in expensive price areas like London and the South East,” said Ray Boulger, a senior manager at mortgage broker John Charcol. After next year’s modest dip London prices will rise 1.5% in 2020, the poll found.

Source:   Reuters (23/11)