The article is about UK house pricing. It shows the estimated and previous growth of the area in Central London. The price falls in the past two years have been due to tax changes. They estimate that prices will rise again in 2019. Stamp duty was reduced for those who bought houses in Central London under 1 million. If you were buying a second house you had 3 percent added to you stamp duty. Causing less people to want to buy houses which may have led to the drop.
Key Takeaways:
- There is a possible House pricing crash to come in London.
- The tax levy on every purchased house is affecting the market.
- Some foreign investors seam to be halted by the recent tax and market slowdown.
“PCL is a market that’s seen its repeated troubles for the past two or three years, but the signs are looking up for it, based on that international dimension.”