Not every year do prices go up. The forces of supply and demand work inherently outside of most anything besides government regulation. A slowdown in the market may mean a “consolidating” market. This just means that its not shooting up like it has been. The housing market clearly stated that it was still growing, just not as quickly as it was. In a few years we will see another burst in the average house price in London. The market goes in waves and the media seems to put a negative spin on anything that just was not ” as good as yesterday.” Hypothetically, Just because I don’t make 1 million dollars like I did last year does not mean that if I make 500 thousand dollars that im doing bad, or poor or that my life is dragging. I still did well its just I did better last year is all and maybe ill do worse or better next year but as long as its in an upward trend I will be fine.
Key Takeaways:
- IHS Markit, senior economist,Tim Moore, notes that the marked decrease in London home price inflation is reflective of a general UK slowdown.
- Even with he slowdown, London’s average house price recently topped out at £452,758.
- The London average remains approximately double the national average, which is £222,911.
“Home prices in the capital grew 0.8 per cent, compared to 13.7 per cent at the same period in 2016, lender Halifax and IHS Markit said in a report on Wednesday. Nationally they rose 2.4 per cent from a year earlier, slowing from their 3.6 per cent gain in the first quarter.”