House prices in London dipped in 2023, even as prices elsewhere in the UK rose, new figures from Halifax show, but the capital’s housing market avoided the crash that many commentators had predicted.
The average London home lost a little over £12,000 in value last year to £528,798 as higher mortgage rates hit buyer demand, a fall of 2.3%. But that’s a long way from predictions of a double-digit decline, made by economists when mortgage prices were soaring to 15-year highs.
