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House prices slip as poll reveals concerns at firms
Evening Standard
|June 30, 2023
LONDON house prices fell in June and there was a double whammy of bad news from the capital’s businesses and savers today, as the economy continued to teeter on the brink of contraction.
Official numbers out this morning confirmed the UK dodged a recession in the first quarter of 2023, with overall growth of 0.1%, in line with the reading for the last quarter of last year.
But then came news of a 3.5% annual UK-wide fall in house prices this month from the Nationwide Building Society, which also predicted that rate hikes would add to the drag on the market. The average cost of a house in the capital fell 4.3% to £517,000.
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