Property sales market stalls in London but rents are rising

Commercial and residential property markets have stalled in London but the capital’s lettings market has seen increases in rents paid, according to a new analysis. There has been subdued house price growth, a sharp drop in housing completions and a lower take up of office space, the report by Centre for London shows. Take-up of commercial property in London and active demand, that is the total space currently sought by companies, both declined by 14% in the first quarter of 2019 compared to the previous year. House prices fell by 1.45 in December 2018 when compared to the previous year, a fourth consecutive month of falling prices. This contrasted with declining, but still positive growth in the rest of England and Wales.