According to property management firm, Apropos, not only has the market peaked, it has begun to fall back on itself with average prices sliding across all parts of the country.
The family-run property management businesses, run by brothers David and John Alexander, has analysed official data and found that average prices in all parts of the UK (with the exception of Wales which continues to increase in average price) peaked between August and November of last year with average prices in London having reached their highest even earlier in July 2017.
All average property prices across the UK, England and Scotland peaked in August 2018 at £232,194, £152,411 and £249,127 respectively whilst in Wales the December 2018 average prices continued to rise reaching £161,845. London prices reached their peak of £488,527 in July 2017 and have been below that level ever since and, in the latest month for data are 3.0% below the peak.