UK property

Nationwide Building Society says the average price of a home in December has gone down 0.4% to £271,068

The capital has seen sharp falls in property prices in real terms over the past decade, particularly for apartments

A series of factors, from Brexit to tax hikes, have reined in a market once seen as overvalued

Prospective buyers also face pressures from weaker real wage gains and a deteriorating jobs picture

The housing market has endured disruption, partly caused by hikes to stamp duty

As buying activity was held off ahead of the Budget, prices may rise in the coming months: Capital Economics

London’s once buoyant housing market has become one of the worst performers in the country over the last year

Chancellor of the Exchequer Rachel Reeves is widely expected to unveil a series of tax increases in the UK Budget

UK property market slows on fears of tax hikes in next month’s budget

Banks have also dealt with their defaulted loan books by reducing them between 10% and 20% through refinancing and increased loan syndication