UK home prices post biggest monthly drop in almost eight years | Fin24
 
  • Mpumalanga Mine

    Constitutional Court rejects coal mining company’s attempt to appeal – but the saga isn’t over.

  • Audit Outcomes

    Turnaround plans had virtually no impact for ailing parastatals, the Auditor-General has found.

  • Battery Power

    Gordhan: Government intends to sign off soon on a "world class" battery storage project.

Loading...

UK home prices post biggest monthly drop in almost eight years

May 08 2018 10:47
Fergal O'Brien, Bloomberg

London - UK home prices plunged the most in almost eight years in April, adding to signs of weakness in Britain’s property market.

Values dropped 3.1% from March to an average £220 962, mortgage lender Halifax said in a report on Tuesday. That’s the biggest drop since September 2010. While that figure can be volatile, the quarterly measure also showed a decline. It fell 0.1%, a third straight drop.

Britain’s housing market has been cooling for the past two years, with London seeing the sharpest slowdown. Monthly mortgage approvals have slipped and reports point to waning interest from potential buyers.

“Housing demand has softened in the early months of 2018, with both mortgage approvals and completed home sales edging down,” said Russell Galley at Halifax.

He expects prices will be supported by a low level of housing supply, though they will rise no more than 3% this year.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

uk  |  property  |  economy
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...