Oct
16
London Is Becoming the U.K.’s Laggard in the Housing Market
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Annual house-price inflation of 2.5% is second worst in U.K.
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Asking prices in the capital more than twice national average
London property is dropping in the price-growth rankings and is at risk of becoming the U.K.’s worst-performing region.
Property website operator Rightmove said Monday that asking prices in the capital have risen 2.5 percent in the past year, the second-weakest performance out of the nine areas it surveys. Lagging behind national house-price inflation of 4.2 percent, only the northeast has fared worse, down 1.2 percent.
“London used to be the country’s jewel in the crown as far as increases in property prices were concerned and it will come back again,” said Miles Shipside, housing-market analyst…
London Is Becoming the U.K.’s Laggard in the Housing Market
