London Luxury-Home Price Gains Fade as Owners Decide to Sell

Luxury-home prices in central London increased by the smallest amount in five quarters after a year-long recovery in values persuaded more owners to put apartments and houses on the market, Savills Plc said.

The average value of a home costing more than 1 million pounds ($1.49 million) rose 0.6 percent in the second quarter from the first three months of the year, according to the London-based property broker. Prices were 12 percent higher than a year earlier, down from an annual gain of almost 17 percent in the first quarter.