The towns of Ryde on the Isle of Wight, Smethwick in the West Midlands and Diss tops the list of property growth in 2018. The biggest price fall was in Alnwick, Northumberland, best known for its castle used as a location in the Harry Potter films, where values dropped drastically. Biggleswade in Bedfordshire, Nantwich in Cheshire and Eastleigh in Hampshire have recorded price falls of 5% or more.
The property website Zoopla has compiled the figures and statistics reveal the drastic changes. The property market has hit badly due to Brexit in recent months, with most of the major house value reduced badly particularly in London and the south.
Zoopla informed that there was an outright decline of 1.7% in London prices, while in the east of England prices also fell on average by 0.5% over the year.
The Brexit effect is even hitting house prices outside the UK, as it is coming to a trembling halt in the final quarter of 2018 as prices flatlined for the first time since the property crash of 2007-08.
Richard Donnell, the member of Zoopla said: “This latest analysis into the value of Britain’s housing stock shows that while the overall value has grown by 1% this is slower than the 3.5% growth in 2017.
“The growth is down to the value of housing falling in London and the east of England while values have increased across the rest of the country. Scotland and Wales are only where values have grown more than the national average
Forecasters are assuming another year of virtually flat house prices in 2019, with most penciling in gains of zero to 2%.
Brexit has a drastic effect.
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