Tuesday , August 22 2017

London home sellers cut price for second time in 3 months


London home sellers cut asking prices for a second time in three months and waning buyer interest hints that the slowdown may
Prices dropped 2.4 percent in June — the biggest for that month since 2010 — leaving them down 1.4 percent from a year earlier, Rightmove Plc said on Monday. Nationally, asking prices slipped 0.4 percent, pushing the annual gain to the weakest since 2013. In London, buyer activity “remains subdued compared to the recent boom years,” Rightmove said.
Multiple reports are signaling a loss of housing momentum. Many first-time buyers have been priced out of the market, while Brexit and political uncertainty may further undermine demand.
Figures from Halifax this month showed values are rising at the slowest quarterly pace in four years, while Nationwide Building Society said they’ve fallen for the past three months. London is seeing a sharper slowdown, largely due to weakness in prime locations.
“It now seems certain that we will have continuing political uncertainty, which the housing market traditionally dislikes,” said Rightmove Director Miles Shipside. “With the first fall in June prices for eight years there is no doubt that the lack of stability is a factor.”

About Admin

Check Also

epa03833848 Two women walk past the window's  of the Nasdaq building in Times Square in New York, USA, 22 August 2013.  A problem at the Nasdaq stock market halted trading in all Nasdaq-listed stocks on Thursday, including major names like Apple and Microsoft. Nasdaq sent out an alert at 12:14 p.m. on Thursday telling traders that it was 'halting trading in all stocks listed on the Nasdaq exchange Òuntil further notice.' The exchange said the issue was a result of problems with the system on which trades are recorded. Trading was also halted on all Nasdaq options markets.  EPA/JASON SZENES

Advertisers rip a page from Wall Street playbook to curb fraud

Bloomberg An online advertisement for Lancome lipstick or a Lamborghini might not appear to have ...

Leave a Reply

Your email address will not be published. Required fields are marked *