Aug
09
London Property Slump Drags U.K. Home-Price Growth to Standstill
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Southeast England posts worst performance in six years
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Buyers demand bigger discounts on most expensive homes
U.K. property prices stagnated in July as a slump in London values spread to neighboring areas, according to the Royal Institution of Chartered Surveyors.
After months of decline in the London housing market, largely due to prime properties in the center of the city, prices in England’s southeast had their worst performance since 2011, RICS said in a survey published Thursday.
Nationwide, RICS said its price gauge fell its lowest level in more than four years, despite increases in Northern Ireland, the West Midlands and the southwest. Over the next 12 months, respondents expect prices to rise, though they were the least optimistic in a year…
London Property Slump Drags U.K. Home-Price Growth to Standstill
