Home Residential PropertyYet another survey suggests London house prices are cooling

Yet another survey suggests London house prices are cooling

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14th Aug 14 9:03 am

We all knew it had to happen sooner or later.

On Tuesday, we told you that Hamptons International has forecasted that London house prices will slow to 3% growth in 2015, down from 15.5% this year.

Estate agents Haart is also predicting a slow-down in prices next year.

Today, the Royal Institution of Chartered Surveyors (RICS) has released research suggesting London house prices will only grow 4.6% in 2015, down from a forecast of 9.3%.

RICS said that โ€œLondon indicators are going into reverseโ€ as new buyer demand for houses fell faster in London than in any other region, according to its members.

Simon Rubinsohn, chief economist at RICS, said: โ€œA range of policy initiatives adopted by the Bank of England in recent months โ€“ alongside heightened expectations surrounding a turn in the interest rate cycle โ€“ has clearly had an impact on sentiment in the market.

โ€œThe shift in the mood music among potential buyers in the London market has been particularly pronounced but that is in a sense consistent with the move to a more sustainable market in the capital.โ€

Do you think London property prices will slow down next year? Let me know @sophiehobson

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