Economic news

Property prices in UK capital dip on stamp duty and Brexit issues

London home prices have declined for five straight quarters as buyers are driven away by big prices and Brexit situation.

Photo: Pixabay

Nationwide’s data says the average value of a house in the city decreased 0.7% to £468,544 in the July-September period compared to the previous year. The second quarter had registered a slump in prices by 1.9%.

And even though prices in the capital go down, London stays among the most costly cities in terms of housing, with the average price across the country standing at £216,103.

In Britain’s home market London lags behind, as the majority of buyers can’t purchase property after a series of sharp price increases.


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