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U.K. Housing Woes Deepen With First Asking-Price Drop Since 2011
U.K. asking prices fell from a year earlier for the first time since 2011, led by declines in London and among the most expensive properties. Asking prices slipped 0.2 percent to 302,023 pounds ($387,000), according to Rightmove. Prices were 1.7 percent lower compared with October, the biggest drop for the month since 2012, the property website said on Monday. The property market in Britain is weakening after a three-decade boom in which price growth vastly outstripped wage gains. The uncertainty around the outlook for the U.K.’s divorce from the European Union is also making buyers more cautious and prompting ... (full story)
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