Data today from the Royal Institution of Chartered Surveyors (RICS) showed that 65 per cent of London-based estate agents saw property prices fall in April, the weakest reading since February 2009 – and they expected them to continue to do so for much of this year. It tallies with data from the Halifax earlier this week which showed nationally UK house prices fell 3 per cent in April. Data from Savills underlines the trend, with London land prices falling 2 per cent in the first quarter of 2018 for a total 12 per cent drop over the last 3 years.
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