The decline in London house prices slowed in the three months to the end of September, according to the Nationwide Building Society, in the latest sign that the capital’s housing market may be unusually resilient to the recent rises in interest rates.
Nationwide’s House Price Index found that house prices in London declined by 3.8% year-on-year to £514,325 in the third quarter of 2023. But that is a more gentle decline than in the second quarter, when prices were down 4.3%.
