In The Zone

London's House Price Fall Is a Tale of Six Cities

The fate of property values varies widely across the pricing zones on the London Underground.
Chris J. Ratcliffe/Bloomberg via Getty Images

The average asking price in January for a home in London is down 3.5 percent from a year earlier, according to property website Rightmove. But there are stark regional differences. Life for values at the center of London’s subway system, in Zone 1, is (relatively) bright and breezy. However, the areas hugging the center, which are more affordable, have been hurt the most, dropping as much as 8 percent. 

Despite some grim London numbers, Rightmove reports people still have a keen interest in U.K. property. The company said it had more than 4 million visitors a day to its website in January, up 9 percent from a year earlier. Given the strong interest, the decline in prices in the capital may tempt some buyers back to the market. 

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Elaine He in London at ehe36@bloomberg.net

    To contact the editor responsible for this story:
    Jennifer Ryan at jryan13@bloomberg.net

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