House prices in UK fall for fifth month in succession
A monthly report published by Acadata shows that house prices in the UK fell for a fifth month in August. This has resulted in the weakest annual gain since 2012.
The report states that values fell 0.2% from July to an average of £297, 398. The falls are greater in London with values dropping by 1.4%, led by prime boroughs such as Kensington and Chelsea, and Westminster.
The slowdown in demand for property can be partly attributed to the unsettling effect of Brexit, but corrections in relation to years of rampant home-price gains are also a contributory factor.
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