Prices of most expensive properties in London plummeting, new data suggests
House prices in London's most expensive areas are plummeting, sparking fears of a domino effect of house price falls across the UK, it is claimed.
The latest data from Home.co.uk shows falls in six out of 10 of the UK's most expensive areas, all of which are in central London.
Overall, it's been a simply staggering year for property prices in London. Some areas have far exceeded the 19% rise overall for Greater London, whilst others have underperformed relative to this figure,’ said Doug Shepherd, director of Home.co.uk.
‘The list of the top five locations reveals some jaw dropping gains. Moreover, it is highly likely that many owner occupiers in these locations earned less than their homes did over the course of the last year,’ he explained.