The UK housing market has slowed considerably compared with last year, when the national average growth rate was 7.5%. The largest increase in cash terms was felt in the London borough of Richmond upon Thames, where a 7.6% rise in house prices saw the average home rise by £45,463 to hit £646,112. The average in Richmond is now more than three times the price of a home in Perth the area that saw the largest fall in prices. Other towns where house prices fell include Wakefield, Rotherham and Barnsley in Yorkshire, as well as Dunfermline and Aberdeen in Scotland. According to a Reuters poll of 28 housing market specialists published last month, property prices will rise by 1.3% nationally, but fall by 0.3% in London.

Source: The Guardian January 02, 2018 06:56 UTC