3 Dec

House prices in London fall for the first time in a year

House prices in London fall for the first time in a year

The cost of purchasing a house in London through an estate agents has fallen during November for the first time in a year, according to new data released by Hometrack.

The organisation said that the positive to be drawn from data was that the marked north-south divide often seen in the market had narrowed as a result.

It was found that prices in London fell by 0.1 per cent throughout the past month to see its first overall decline in the market since December 2011.

Richard Donnell, director of research at Hometrack, said: "Rising supply and a new top rate of stamp duty have acted as a brake on house prices.

"This has been fuelled further by fears of an announcement in the forthcoming autumn budget statement of a possible annual charge on high-value homes."

He also went on to say that any slowdown in the market had been less throughout 2012 than it was a year ago, despite a bigger impact on people's finances and household income.ADNFCR-1222-ID-801499749-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.