PHOTO: Prices have not dropped more rapidly since September 2009 when they fell 3.25 per cent while the market was still reeling from the impact of the financial crisis. Hamptons International
London house prices are falling at their fastest rate for nine years latest figures revealed today as an official report blamed Brexit for the stagnation in the capital’s property market.
The average value of a home in London stood at £484,926 in July, down 0.74 per cent on a year previously, according to data from the Office for National Statistics.
The dip sliced around £2,500 from the price of a home in the capital.
Prices have not dropped more rapidly since September 2009 when they fell 3.25 per cent while the market was still reeling from the impact of the financial crisis.
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