House prices in London show signs of slowing down

Sale signs outside houses in Finsbury Park, North London, as house prices increased by just 0.1% month-on-month in July

Sale signs outside houses in Finsbury Park, North London, as house prices increased by just 0.1% month-on-month in July

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House prices increased by just 0.1 per cent month-on-month in July marking the weakest growth in 18 months amid signs of a rapid cool down in the London market it was reported yesterday.

The momentum of price rises in the London market has “slowed dramatically”, with just 12 per cent of postcodes in the capital registering price gains in July and 11 per cent seeing falls, Hometrack’s latest report found.

It said this marked the first time in four years that London, which is seen as the engine of house price growth, has had a smaller proportion of markets registering price gains than regions across England and Wales.

 

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