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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 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.
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