Is the housing bubble steadily deflating? Average prices fell 0.3% last month to £162,347 – that’s 2.6% lower than a year ago. It was also the third fall in the last four months, according to figures from the Land Registry.
On the other hand, houses in London are bucking the trend. They rose 0.5% in August and are now 2.1% higher than a year ago. The average property price in the Big Smoke is now £348,686, thanks to an influx of wealthy foreign buyers attracted by the cheap pound. Hardly a boom, but it looks like the housing market’s foundations are sturdier in the capital.