{"id":20135,"date":"2019-07-18T09:30:54","date_gmt":"2019-07-17T21:30:54","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=20135"},"modified":"2019-07-18T09:30:54","modified_gmt":"2019-07-17T21:30:54","slug":"international-london-property-market-suffers-worst-year-in-a-decade-as-prices-crash","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/international-london-property-market-suffers-worst-year-in-a-decade-as-prices-crash\/","title":{"rendered":"INTERNATIONAL: London property market suffers worst year in a decade as prices crash"},"content":{"rendered":"<p><strong>PHOTO:\u00a0The property market is cooling. Photo: Matt Dunham\/AP<\/strong><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"22\">London\u2019s property market has recorded its worst year in a decade as prices sunk by 4.4% in the year to May, according to official figures.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"23\">Prices in the capital slid by 2.5% between April and May, as Brexit uncertainty hit confidence in the housing market.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" style=\"margin: 0px 0px 1em; color: #26282a; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial;\" data-reactid=\"24\">Nationally house prices rose only 0.1% between April and May, according to the\u00a0<a href=\"https:\/\/www.gov.uk\/government\/collections\/uk-house-price-index-reports\" target=\"_blank\" rel=\"nofollow noopener\">UK house price index\u00a0<\/a>published by HM Land Registry on Wednesday. That matched February\u2019s six-year low.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"25\">London had the worst year for prices of anywhere in the UK, with the 4.4% decline a steep fall on the previous month\u2019s year-on-year drop of 1.7%.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"26\">It is also the worst annual decline in London since August 2009 during the financial crisis, when prices tanked by 7%.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"27\">UK property prices were almost flat between May and June as fears continue to build of a no-deal Brexit in October, which the Bank of England has warned could cause property prices to crash.<\/p>\n<p data-reactid=\"27\">READ MORE VIA <a href=\"https:\/\/finance.yahoo.com\/news\/uk-property-prices-house-market-fall-rise-london-brexit-083651218.html\">YAHOO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO:\u00a0The property market is cooling. Photo: Matt Dunham\/AP London\u2019s property<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/international-london-property-market-suffers-worst-year-in-a-decade-as-prices-crash\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":20136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478106321,478101199,478099376,478098519,478098535,478100803,478098513,478101743,478098873,478106036,478098579,478098510,478098514,478098511,478098705,478098533,478098509,478106322,478101766],"class_list":["entry","author-data123nz","post-20135","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-bank-of-england","tag-brexit","tag-estate-agents","tag-home-ownership","tag-house-prices","tag-london-property","tag-property","tag-property-correction","tag-property-investment","tag-property-marke","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-uk-house-price-index","tag-uk-property"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INTERNATIONAL: London property market suffers worst year in a decade as prices crash - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/international-london-property-market-suffers-worst-year-in-a-decade-as-prices-crash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INTERNATIONAL: London property market suffers worst year in a decade as prices crash - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO:\u00a0The property market is cooling. 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