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Central London Property Prices Continue to Slump in August

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Central London property prices continued to slump in August, contrasting with “resilient” performances elsewhere in the U.K., according to the Royal Institution of Chartered Surveyors.While values nationally posted a modest recovery from July’s four-year low, real-estate agents in London gave their bleakest assessment since 2008, RICS said in a survey published Thursday. The outlook for the capital is also subdued, with prime central London the only area in which prices expectations are negative over the next 12 months.Property prices as a whole were driven by increases in Northern Ireland, Scotland and the northwest, according to the survey. Sales have not seen any growth since November 2016, while average stock levels on agents’ books are still near an all-time low.

Source: Central London House Prices Post Worst Performance Since 2008 – Bloomberg

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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