House prices in London grew at their slowest rate in two years, but the property market in other major cities around the UK is booming, according to a report by property analysts Hometrack. Examining the country's top 20 cities, the report found the London market is being impacted by Brexit, investor demand and new taxes, and with the average home now costing £480,500, many are priced out of the market, despite record low interest rates. Sterling has continued its “slippery decline” as ongoing fears over the consequences of "hard Brexit" haunt investor attraction towards the currency. The report, which was released on Tuesday, said that while house price growth has slowed since last year, it remains "robust" compared to most parts of Britain.
House prices in London grew at their slowest rate in two years, but the property market in other major cities around the UK is booming, according to a report by property analysts Hometrack. Examining the country's top 20 cities, the report found the London market is being impacted by Brexit, investor demand and new taxes, and with the average home now costing £480,500, many are priced out of the market, despite record low interest rates. The report, which was released on Tuesday, said that while house price growth has slowed since last year, it remains "robust" compared to most parts of Britain.