House price forecast: average London home value could drop £28,000 next year before rising £124,000 by 2027

JLL expects Greater London house prices to fall by 4% in 2023 (Yui Mok/PA)

(Picture: PA Wire)

Almost £28,000 could be wiped from the value of an average home in the capital next year, experts have warned.

But the drop is expected to be short lived with the price of the typical property then shooting up by close to £125,000 over the following four years.