Home Residential Property Yet another survey suggests London house prices are cooling

Yet another survey suggests London house prices are cooling

by Deleted Subscriber Content
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 “London indicators are going into reverse” 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: “A range of policy initiatives adopted by the Bank of England in recent months – alongside heightened expectations surrounding a turn in the interest rate cycle – has clearly had an impact on sentiment in the market.

“The 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.”

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

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