London Suffers The Fastest Drop In House Prices In The UK

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London house prices have dropped more than anywhere else in the country, new reports suggest.

Based on findings from March 2017 and March 2016, the average house price in London fell by a not-actually-that-helpful 1.5% to £471,742.

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According to the Office for National Statistics, house price growth in London is now the slowest since 2012. Just look at that delicious dip!

House Prices London

This decline could be down to a number of factors such as the uncertainty of the pound, Brexit or low income in the capital. Compared to just a year ago when house prices were rising by 15% a year, so it’s a very slight glimer of hope for those of us not on the property ladder. Now we just need to find a spare £471,742…

In other London-related news:

💷 London is officially the most expensive city to live in
🏠 The cost of renting in London has dropped for the first time in 8 years
🔑 Reasons why you’ll never be able to live anywhere but London

Feature Image: Norbert Rupp.

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