London home asking prices plunge most in over six years

London home sellers cut asking prices by the most in more than six years this month, adding to signs that the property market in the UK capital is coming off the boil.

18th August, 2014
Nationally, prices declined 2.9 per cent, a record for August

London home sellers cut asking prices by the most in more than six years this month, adding to signs that the property market in the UK capital is coming off the boil.

London values fell 5.9 per cent from the previous month to an average 552,783 pounds ($922,300), the biggest drop since December 2007, property website Rightmove Plc said today. Nationally, prices declined 2.9 per cent, a record for an August.

While property demand usually weakens during the summer, Rightmove...

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