Jul
13

London House-Price Index Falls to Seven-Year Low After Brexit

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  • Gauge drops to -46 in June, weakest reading since 2009: RICS
  • Values in capital fall 1.4%, biggest drop since 2011: Acadata

A measure of London house prices fell to its lowest level since the height of the financial crisis as Brexit sent shock waves across the U.K.

The index dropped to minus 46 in June from minus 35 the previous month, the Royal Institution of Chartered Surveyors said Thursday, citing a survey of real-estate agents. That’s the weakest reading since early 2009. All responses were received after the European Union referendum on June 23.

A separate report from Acadata Ltd. and LSL Property Services Plc showed home values in the capital were already being hurt ahead of the vote, with prices decreasing 1.4 percent in May, the biggest monthly fall since June 2011…

London House-Price Index Falls to Seven-Year Low After Brexit

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