Punchy price drops: nine London homes for sale after reductions of a fifth or more

Mortgage rates showed signs of softening as July inflation figures were revealed this week.

But we’re hardly out of the woods, with buying power continuing to be severely impacted by rising interest rates, a red-hot rental market and the ongoing cost-of-living crisis.

In London, sellers achieved 97.9 per cent of asking prices in July according to data by Hamptons — with discounts now around 4.5 per cent on average.

While more than 60 per cent of homes sold in the capital in July had a final sale price below their original asking price.

With price drops now par for the course, here are nine London homes currently for sale after reductions of a fifth or more.

Ealing, W5

Montpelier Road, £950,000 (was £1.5m)

Ground-floor home with a share of the freehold (Dendrow)

Three-bedroom ground-floor apartment with high ceilings and original fireplaces, set back from leafy road. Share of freehold.

Dendrow, 020 3834 8579

Earls Court, W14

Beckford Close, £800,000 (was £1.05m)

A two-bedroom flat in this Earls Court block (John D Wood & Co)

More than 1,000 sq ft apartment in smart block, with two bedrooms, two bathrooms, private parking and access to on-site gym.

John D Wood & Co, 020 3369 4322

Putney, SW15

Keswick Road, £530,000 (was £665,000)

Near East Putney tube, a three-bedroom apartment with gardens (James Anderson)

Versatile three-bedroom apartment in art deco block, minutes from East Putney Tube. Balcony overlooking communal gardens.

James Anderson, 020 8788 6611

Sydenham, SE26

Bishopsthorpe Rd, £900,000 (was £1.2m)

A fixer upper in Sydenham (Pedder)

Thirties family home in need of modernising, within walking distance of the station. Four bedrooms and wraparound garden.

Pedder, 020 3834 7866

Wimbledon, SW19

Thornton Road, £800,000 (was £999,950)

There’s planning permission to add two bedrooms to this home in Wimbledon (Brinkley’s)

Two-bedroom house and double garage, sold with planning permission to convert into four-bedroom house. Village location.

Brinkley’s, 020 8944 2918

Highbury, N5

Northolme Rd £240,000 (was £350,000)

A compact studio in Highbury (Savills)

Compact studio in Victorian conversion, wrapped in hand-painted mural inspired by nearby Clissold Park. Offered chain-free.

Savills, 020 3879 5218

Battersea, SW8

Stanley Grove, £1 million (was £1.295m)

Townhouse in a conservation area (Foxtons)

Three-bedroom townhouse in conservation area with planning permission for side return. Good-size garden and downstairs WC.

Foxtons, 020 3840 3975

Hampstead, NW3

Maresfield Gardens, £995,000 (was £1.275m)

A share-of-freehold buy in Hampstead (Knight Frank)

Characterful two-bedroom flat on top floor of Edwardian conversion near Finchley Road Tube. Share of freehold.

Knight Frank, 020 3909 6446

Acton, W3

Churchfield Rd, £425,000 (was £549,950)

A two-bedroom flat in Acton (Robertson Smith & Kempson)

Almost 1,000 sq ft two-bedroom flat in low-rise block near Acton Central. Off-street parking and no chain.

Robertson Smith & Kempson, 020 8896 3996