House prices falling in popular parts of London

Savills has revealed that popular parts of north and east London have seen a 2.2% fall in house prices in the last three months of 2022. The estate agents' quarterly tracker of "prime" property prices said that prices in these areas - which include parts of Hackney, Islington, Shoreditch, and Clerkenwell - have fallen more sharply than in other areas where cash buyers are more prevalent. Savills' analysis also found that north-west London - which included Hampstead, St John's Wood, Primrose Hill, Maida Vale and Little Venice - was least affected, with prices down just 0.3% between September and December. Buyers in this area tend to be wealthy and are more likely to buy properties without mortgages, Savills said. 

The Daily Telegraph (28/12/2022)