The Trader 

Market Outlook: London homes slump

The Trader

Data for the year to June 2017 from the Office for National Statistics show that London house prices across all boroughs fell by 0.7 per cent, the steepest drop since the 3.2 per cent of September 2009.  As is so often the case, the higher they climb, the harder they fall, and Kensington & Chelsea saw its biggest drop on record, 10.5 per cent.  Needless to say, this effect has seeped slowly across the UK where house prices saw the slowest growth in 5 years.  The average property now costs £228,000 (London £447,000); hardly affordable.

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