Average new build property prices in England have risen 3.7% since September 2017, but since August 2018 they've fallen 2.1%, according to figures from ONS. Overall prices in England have slipped 0.1% since October. London, where the cost of an average new build is £488,763 ($628,629), experienced the most significant annual drop – 0.7% – , down 3.9% since August. Analysts said an increase in the upper stamp duty threshold had prevented people in London from moving while other homeowners were adopting a wait-and-see policy amid Brexit uncertainty.
Average new build property prices in England have risen 3.7% since September 2017, but since August 2018 they've fallen 2.1%, according to figures from the Office of National Statistics. Overall prices in England have slipped 0.1% since October. London, where the cost of an average new build is £488,763 ($628,629), experienced the most significant annual drop – 0.7% – , down 3.9% since August. Analysts said an increase in the upper stamp duty threshold had prevented people in London from moving while other homeowners were adopting a wait-and-see policy amid Brexit uncertainty.