U.K. Home Prices Fall on Economic, Olympic Distractions: Economy

U.K. home sellers cut asking prices by a record for the month of August after the London Olympic Games and an uncertain economic outlook distracted potential buyers, according to Rightmove Plc.

Average asking prices in England and Wales fell 2.4 percent to 236,260 pounds ($371,282) from July, when values declined 1.7 percent, the operator of Britain’s biggest property website said in an e-mailed report in London today. Values dropped 1.2 percent in London.