London House Prices Fall Again in June

London home sellers cut asking prices for a second time in three months and waning buyer interest hints that the slowdown may continue.

Prices dropped 2.4 percent in June — the biggest for that month since 2010 — leaving them down 1.4 percent from a year earlier, Rightmove Plc said on Monday. Nationally, asking prices slipped 0.4 percent, pushing the annual gain to the weakest since 2013. In London, buyer activity “remains subdued compared to the recent boom years,” Rightmove said.

Multiple reports are signaling a loss of housing momentum. Many first-time buyers have been priced out of the market, while Brexit and political uncertainty may further undermine demand. Figures from Halifax this month showed values are rising at the slowest quarterly pace in four years, while Nationwide Building Society said they’ve fallen for the past three months. London is seeing a sharper slowdown, largely due to weakness in prime locations.

Bloomberg

Sterling Steady Pre-Brexit Talks

APAC Commodities – Lend Me Some Sugar?

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.