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The Decline of London House Prices

The Decline of London House Prices

With the recent tax changes and continued political uncertainty stemmed from Brexit; investors are playing safe as shown by the lack of interest and activity to fund real estate investment opportunities. According to Rupert Jones (2017); Angela Monaghan (2017) and statistical data obtained from Rightmove (2017); asking prices for London homes have fallen on average by £18,000 for September 2017.

Meanwhile, the Midlands exhibited the strongest growth and increase in residential house prices. This may arguably be driven by the proposed High Speed Two (HS2) railway line; which aims to link London, Birmingham, the East Midlands, Leeds and Manchester. With this point in mind, house prices for the East Midlands, Leeds and Manchester will also be anticipated to increase alongside Birmingham; due to the integration of the HS2 high-speed railway line. Therefore, investors keen on London residential property should broaden their search and focus on investment opportunities in Birmingham, East Midlands, Leeds and Manchester. Ultimately, only time will reveal whether house prices will fall/increase…

 

Sources of Information:

  1. https://www.theguardian.com/money/2017/sep/18/asking-price-house-london-fall-kensington-chelsea
  2. http://www.rightmove.co.uk/
  3. https://www.theguardian.com/business/2017/sep/29/london-house-prices-fall-for-first-time-in-eight-years-as-rest-of-uk-rises

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