Taking Stock 

Location, location, deflation

Taking Stock

Location, location, deflation

Are we at the top of the property rollercoaster? It’s a tempting question to ask. In London, the average price of a house sold in the third quarter was £471,761, which was 0.6 per cent lower than in the same period last year. It was the only region in the Nationwide House Price Index to see a fall in the average selling price – the average rise was still very healthy at 2.2 per cent – and was the first year-on-year fall in the capital since 2009. That’s largely due to a fall-away in demand, after mortgages for house approvals and remortgages softened in August.

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