London Property ‘Less Frothy’ as Asking Prices Fall: Economy
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London home sellers cut asking prices by the most for a December in five years as an influx of supply and seasonal factors undermined pricing power.
Asking prices fell 4 percent from the previous month to an average 464,398 pounds ($752,000), property website Rightmove Plc said today. Average prices in England and Wales fell 3.3 percent, the most since January 2002. Rightmove said the decline in London may be a portent of a “less frothy” market in 2013.