Average London home price falls below half-million pound mark

The average price of a home in London has fallen below the half a million pound mark for the first time since July 2021, according to Land Registry figures published on Wednesday. UK house prices in March rose year-on-year for the first time since last summer; however, London and the South East were the only regions where they declined. The average price of a house in London in March was £499,663, a £17,500 annual decline. Inner London house prices were falling fastest, by 7.3%. In each of Westminster, Camden and the City, prices were down by more than 20% year-on-year. In contrast, the price of an outer London flat was down only 1%.

Evening Standard (22/05/2024)