Acadata has released its latest house price results for the UK, which shows that values in London continue to fall:
The retreat in house prices continued in April, and this is now the eleventh month in which the annual rate of house price growth has slowed, albeit at an ever-reducing rate. The average annual rate of increase now stands at 1.0% when including London and the South East, or at 3.0% when excluding these two regions. As Figure 1 below shows, average annual house price growth peaked in February 2016 – at 9.0% – including London and the South East, or at 6.7% without, just prior to the introduction of the 3% surcharge on second homes and buy-to-let properties. Subsequently, the rate of price growth has been falling, and at an accelerated rate since September 2017 until April 2018, when there is some evidence of stabilization in the rate of change…
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
