London house price growth slows as rest of UK bounces back

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Wednesday, Jun 28 2017

London house price growth slows as rest of UK bounces back

London house prices suffered a sharp slowdown in the second quarter, rising at the weakest rate in five years and falling behind the rest of the UK according to the latest snapshot of the property market from Nationwide. Annual price growth in the capital dropped to 1.2% between April and June, from 5% in the previous quarter. It was the slowest growth since 2012 and fell below the 2.8% rise across the country as a whole.

Of the 13 regions included in the Nationwide report, only the north-east and Cumbria experienced a slower rate of house price growth, at 1.1%. “There has been a shift in regional house price trends,” said Robert Gardner, Nationwide’s chief economist. “Price growth in the south of England has moderated, converging with the rates prevailing in the rest of the country.”

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