London Luxury-Home Prices Gain Least Since January

London luxury-home prices increased last month by the smallest amount since January as a stronger pound deterred foreign buyers and more properties went on sale, Knight Frank LLP said.

Prices of houses and apartments costing 1 million pounds ($1.55 million) or more rose 16 percent in August from a year earlier, the London-based real estate adviser said in an e-mailed report today. They fell 0.1 percent from July, the second straight decline after 15 months of gains.