London’s Housing Market Loses Ground to Other U.K. Cities

London home prices are losing ground to other U.K. cities as restrictions on mortgage lending deterred buyers in the country’s best-performing market this year.

Properties in the U.K. capital climbed by an average of 0.5 percent to 403,200 pounds ($632,000) in the three months through November, property researcher Hometrack Ltd. said in a report today. That was less than five other British cities, led by Edinburgh with a 1.8 percent increase and Glasgow’s 0.9 percent gain. Bristol, Southampton and Birmingham also beat London.