Weak property growth in the UK

Property prices in the UK maintain their weak growth in October this year. Compared to the same month last year, properties rose by 2.5%. The range of raise is similar to that of the beginning of the year.
The rise in property prices in the UK has slowed down significantly over the past year as a result of the uncertainty associated with BREXIT.
Property grew by 0.2% on a monthly basis, which was a serious slowdown compared to the first half of the year.
Low interest rates and steady levels of employment give some relief to the demand for real estate.
On the other hand, the uncertainty associated with BREXIT and the conditions for leaving the Union can be factors that aggravate the situation for the property market.
The decision of the central bank this week to raise interest rates may have a further negative impact on the properties.
Property buyers and mortgage lenders are already adjusting their finances in a line that fits the interest rate hike.

Properties in the UK with the weakest growth in five years

Property prices in the UK have seen their slightest rally in more than five years this month, after the decline in property prices in London perailed over the whole asset.
Selling property prices rose by 1.1% yoy, according to statistics by Rightmove Plc. By comparison, in August the increase was 3.1% on an annual basis.
Market observers comment that the data is surprising, given the fact that traditionally in autumn there is an increase in buyers of real estate after the holiday season.
The data is worrying and may indicate a slowdown in both the growth of the British economy and inflation.
BREXIT hit the London property market hardest, as a result of strong outflows of potential foreign buyers. Selling property prices declined by 3.2% yoy, or at most during this decade.
A drop of more than 10% has recorded in the prices of the most expensive properties in the prestigious neighborhoods of London.