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House prices fall in London but rise across the rest of the UK, says RICS

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Thu 12 Mar 2015

House prices fall in London but rise across the rest of the UK, says RICS

London house prices could rise by 30 per cent over the next five years, surveyors have claimed today as property values across the UK continued to rise in February amid a lack of new properties on the market.

In fact, Britain's capital was the only region to not record a rise in house prices last month, with prices falling for the sixth month in a row. But the Royal Institution of Chartered Surveyors said that despite recent falls, there were signs that the trend was starting to turn around as the pace of decline eased.

Simon Rubinsohn, chief economist at RICS, said that there was a strong view that the price of property in London will become even 'more unaffordable' over the medium term.

http://www.thisismoney.co.uk/money/mortgageshome/article-2989695/London-house-prices-rise-30-five-years.html