UK property market has been lukewarm this year, with house prices rising 1.02 percent across the country, according to a latest study by property website Zoopla.

Growth of house prices varied markedly in different regions, with Scotland leading an increase of 6.43 percent, followed by Wales with 3.98 percent, said Zoopla in its study, adding that the least affordable region London saw property values drop 1.67 percent.

The seaside town of Ryde on the Isle of Wight has been regarded as Britain’s property hotspot of 2018, with house prices rising by more than 10 percent, Zoopla said.

British media quoted mortgage lender Halifax as saying that 2018 growth has been at the lower end of its forecast of 0 percent to 3 percent growth for the year.

Halifax predicted house prices will broadly be stable in 2019, rising between 2 percent and 4 percent, if Britain leaves the EU with a withdraw deal and transition period.

Last month, the Bank of England warned that house prices could fall by 30 percent in the event of a no-deal Brexit. Enditem

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.