Smaller London home-price show drop in prices
Smaller London home-price drop shows bottom near. Home values in greater London slipped 0.2 per cent, compared with an average 0.6 per cent drop for July over the past five years, a property website said on Monday. From a year ago, prices slid 1.7 per cent to an average 617,941 pounds (S$1.05 million).
The UK’s decision to leave the European Union has weighed on the housing market since the 2016 referendum, with London hit particularly hard. Still, low interest rates, record employment and short supply of homes is preventing a sharper decline.