In 2018, property prices in London will significantly decrease

Experts believe that in 2018 real estate in the British capital will fall in price by at least 2%, in addition to decrease of 1.8% in 2017. And the price of premium property could even fall by 4% compared to 3.7% in the previous year. Recall that in December 2017, prices fell by 3.7% in London and by 2.6% at the national level.

According to the latest forecasts, the national growth in housing prices in the country in 2018 will drop to 1%, which will make it the weakest period since 2011. Obviously, this is a consequence of the slack economy and pressure on consumers after the vote on Britain's withdrawal from the European Union.

Also, the economic situation is affected by a number of factors, including stricter credit conditions, simplified accessibility and increased stamp duty for second-housing owners. Recall that in November 2017, Philip Hammond canceled stamp duty on the purchase of the first housing to £400 thousand.

However, despite the fact that this is good news, experts state that eventually a decline in property prices will lead to higher prices and demand in the future, and then at the national level, prices will continue to be supported by a permanent shortage of properties for sale.

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