London House Prices Are Expected To Fall In 2017

For those of you who thought that there was more chance in buying a plot of land and relocating to the moon than being able to afford a property in London, you may want to hold off buying a space suits.The Centre for Economic and Business Research has predicted that in 2017 house prices in London will fall by a rather significant average of 5.6%. The prediction, however, is not so great for property owners. The anticipated fall in the capital goes against the general grain for the rest of the UK, as across the nation, property prices have been predicted to increase by 2.6% (this is still, however, a far smaller increase than the 6.9% growth of 2016).

The reason? You guessed it. Brexit. The economic consultancy has warned of uncertain economic times ahead, which isn’t particularly surprising.

Feature image: Flickr Suzanne Gielis

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