After years of continuous growth, prices being sought in Greater London are down 1.6 per cent year on year. It appears vendors have started to accept they must lower their sights if they want to secure a sale.
The figures will add to evidence that house prices are reaching their peak, particularly in high value areas such as London and the South East
In the north-east London borough, the average annual wage is £33,800 and the average house price is a lofty £575,511 – equating to a ratio of 17.03
Slowdown in housing market continues amid uncertainty over Brexit
Buoyant spring sales create optimistic outlook for house price growth ahead of the snap General Election.
The drop in prices is led by more expensive homes in central London, but there's some hope for first-time buyers too.
First-time buyers have been particularly active, with average asking prices in this market up 6.5 per cent, Rightmove said.
Exiting Londoners are heading to the East Sussex coastline in search of more space and a slower pace of life, and the ones who are staying are buying south of the river, according to a new report.
We ask property experts how leaving the EU could affect the capital's housing market. Here's what they predict...
House prices across the UK are up 1.3 per cent this month, with homes in the East and West Midlands rising at the fastest rate.
The INSIDER Summary:
Rents are falling fastest in London
The gulf between average incomes and average property prices is now wider than ever, according to a new report.
Properties in British cities now cost an average of seven times local salaries
Although the market is price sensitive, demand for homes remains strong.
The UK property market remains fiercely competitive despite a slight slowdown in certain areas in the wake of last year’s Brexit vote