London Home-Price Drop Deepens as Rules Limit Buyers

Sue Munden bought her five-bedroom house in the southwest London district of Streatham in November after negotiating the price down to 610,000 pounds, about 100,000 pounds less than a similar home on the street sold for in April.

“I did look earlier in the year, but I wasn’t able to have an offer accepted at a level I was comfortable with,” said Munden, who was surprised to get the property for 90,000 pounds ($141,000) less than the offer price. “I thought house prices were too high.”