London to experience 3.3pc house price slump in 2015

 
Gabriella Griffith
The CEBR expects to see a 3.3 per cent decline in London house prices (Source: Getty)
A slowdown in the prime end of the London housing market could drag UK house prices down by 0.6 per cent this year, according to the Centre for Economics and Business Research (CEBR) – a marked different to the 8.8 per cent growth experienced across the UK in 2014.

The CEBR expects to see a 3.3 per cent decline in London house prices in 2015 and does not expect this to bounce back after the May General Election, when uncertainties around tax will be diminished.

“The new stamp-duty system lowers tax payments for 98 per cent of home buyers and will give a slight boost to the market, but not enough to prevent a price drop,” said CEBR economist, Nina Skero.

Related articles