Economic news

House prices to drop in London next year – RICS

House prices in London and the south-east will slump in 2018 as the wary sentiment that has grabbed the property market in recent months spreads into 2018, the Royal Institution of Chartered Surveyors (RICS) has predicted.

Surveyors suggested that London would see an extending trend of fall, spreading to the South East suburbs.

The house sales will tumble from 1.2 million in 2017 to 1.15 million next year, RICS predicts.

Since the Brexit vote, inflation has leaped to 3.1 percent - boosted by a weaker sterling - affecting net savings and housing accessibility.

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