According to the home.co.uk website, a surge in monetary inflation due to the weak pound means that capital values are not growing in real terms. This means that house prices could lose value in real terms this year, even if cash values continue to edge higher. However, other market indices have shown house prices growing at a faster annual rate.
Key Takeaways:
- At the end of 2016, the average property in the capital cost £578,381, reports Moneywise, compared to £278,750 across England and Wales as a whole – a difference of £299,631.
- While this is great news for homeowners, for those “who haven’t made it onto the property ladder the numbers are pretty depressing”.
- London’s once-downtrodden, but now desirable borough of Hackney has seen fastest growth, with house prices soaring from £75,569 to £606,269, more than 700 per cent.
“At the end of 2016, the average property in the capital cost £578,381, reports Moneywise, compared to £278,750 across England and Wales as a whole – a difference of £299,631.”
https://www.theweek.co.uk/house-prices/61987/unprecedented-fall-in-house-rental-prices-on-the-way