It looks like we are at the end of a price increase cycle. Over the last year we have seen the London market prices boosted by foreign investors and a shortage of properties, but after the elections an increasing number of properties are coming available for sale, and that, together with tight lending conditions is now pulling the brakes in the selling prices.
Rightmove.co.uk, the leading U.K. property portal, just published its May price index.
The average house price in the U.K. capital fell 0.4% from April to £420,203, U.K.’s biggest property website said in an e-mailed statement today. In the year, prices rose 5.7%. In England and Wales, they rose 0.7% in the month to £237,134
Read more: http://www.propertyweek.com/story.asp?sectioncode=297&storycode=3163590&c=1#ixzz0pc8Aqqz7
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