Lower housing prices in government

Figures released by the government show that annual UK housing price growth has now fallen to 2.5% – the lowest rate since July 2013.

The UK real estate price index is slower to report than most other indices, but reflects a similar story to others. He says annual growth in November was 2.7%, falling to 2.5% in December.

The Northeast region recorded the worst performance with prices falling 1.0% in one year, followed by London, where prices fell 0.6%. Growth was strongest in Northern Ireland, where prices rose 5.5% over the year, Wales 5.2% and Scotland 2.4% annual growth .

The West Midlands was the best-performing English-speaking region, up 5.2% from December 2018, followed by the East Midlands and Yorkshire & Humberside, both up 4.2%.

Jeremy Leaf, North London real estate agent and former chairman of the RICS Residents' Council, said: "This reduction in growth is not totally surprising, as the numbers reflect what was happening in November and December when the Brexit turmoil was even more frenetic than today.

However, he suggests that the situation may have changed since the government's slightly historical raw data.

"What has happened since down the main street is that we have seen the release of pent-up activity and even investors and developers take a more optimistic view than they've done since. some time, "adds Leaf.

"The market continues to suffer from a shortage of available real estate and very low interest rates, but to be successful, realistic sellers need to make their properties attractive in terms of price, presentation or price. both in order to engage with fewer but more pragmatic buyers. "

For his part, Nick Leeming, president of Jackson-Stops, said that it was remarkable that "we were still waiting for the outcome of our future outside the EU with just a few weeks before Brexit. ".

Nevertheless, he adds: "Many subsidiaries of the Jackson-Stops consortium report a busy start to the year as buyers and sellers come to the conclusion that the time is right for action, as long as interest remain unchanged. relatively weak. "

And Will Tremlett, Senior Partner at Sotheby's International Realty (UK): "While Brexit is clearly a contributing factor, stamp duty is the main driver of the London market. It is extremely alarming that the government has decided to go ahead with the proposed stamp duty levy on foreign buyers … We have witnessed the lingering uncertainty engendered by the delay and the delay. Vote failures at Brexit, with a decrease in the number of transactions in 81% of cases. London boroughs. "

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