According to Halifax, Britain’s biggest mortgage lender, house prices in London are falling at the fastest rate in nine years. Prices were down 3.2% between January and March, compared to the previous quarter. According to this data, this is the sharpest decline since the financial crisis.
Looking around the country, however, prices grew strongly elsewhere. The East Midlands and East Anglia recorded the fastest rates of annual price inflation of 7.3% and 7.2% respectively followed by Scotland on 6.7% with Yorkshire and Humber coming in at 6.1%.
The average price for a house across the UK is £223,819. Apart from London and the South East, the South West is one of only two regions (the other being East Anglia) which remain above the national average at £237,371.
There is always all sorts of data about house prices rising and falling and so on, but at the end of the day, a house is worth what somebody will pay for it. If you are interested in discussing a house sale or purchase, entirely free of charge, do contact the head of our property team, Julie Rowan at firstname.lastname@example.org or telephone 01208 72328