Capital's property boom appears to be cooling

The mini-boom enjoyed by London’s property market appears to be running out of steam after prices dropped in February. Land Registry showed that the average cost of a home in the capital dipped 1.4% in the month to £496,269, which is still 4.6% up on a year earlier, but London's annual rate of growth is now the lowest for any region in the country. The biggest rises were in leafier outer London boroughs. Prices rose 13.3% over the year to February in Merton, by 11.7% in Sutton, and 11.4% in Ealing. Nationally, house price inflation rose to 8.6%, the highest since October 2014.

Evening Standard (21/04/2021)