House prices in London continued to fall

Prices for houses in London continue to fall amid a decline in demand for housing in the capital, Bloomberg reports, citing the Royal Institute of Chartered Appraisers. Over the period from January to June, the number of agents who had reported a drop in prices was bigger than the number of those who had reported about their growth. As of the end of June, prices at the country level remained at the same level. The boom for houses in the UK, lasting for 3 years, made housing inaccessible to many. Demand for houses, especially in London, fell even more because of slowed economic growth and the decision to withdraw from the EU. The fall in sales in the country has been observed for 16 consecutive months. A change in the rules of taxation may lead to an increase in the cost of rent, as the attractiveness of buying real estate for rental purposes falls.

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