ONS blames Brexit for London house price collapse

The July figures are down 0.74% on the year, the first significant fall since 2009 and the financial crisis. A separate report lays the blame on stamp duty changes having a more significant impact on London and it’s higher value market and – more importantly – Brexit… the fall in EU migration and the knock in economic confidence. However, gains outside London are masking the capital’s property downturn, leaving the national figure at +3.1%. See the report here.