The average asking price of a London home is now £666,500
(Picture: Daniel Lynch)Average asking prices across London have dropped by 2.3 per cent – or almost £16,000 – in a month as buyers put moving plans on ice amid the cost of living crisis and escalating mortgage rates.
The average price of a London home fell to £666,500 over the past month, according to the latest house price index by Rightmove. Asking prices in the capital are up 4.6 per cent annually although, with inflation reaching 11.1 per cent in October, this still represents a fall in real terms.
