Economics
London Home Price Declines Seen Continuing for Next Three Years
- London is the only region in the U.K where prices are dropping
- Sales volumes have been falling and look set to remain low
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London home prices, which almost doubled over the past decade, will probably fall over the next three years, according to a survey of seven economists by Bloomberg News.
Values will decline by up to 10 percent over the period, according to five of the respondents. Two said they would remain unchanged and none of those who replied foresee gains. The results tally with research by Hometrack, a valuer used by 17 of the top 20 U.K. lenders, which expects prices to fall further over the next 24 months as affordability and economic and political uncertainty stemming from Brexit weigh on demand