London Slump Drags U.K. House-Price Growth to a Standstill
- Southeast England posts worst performance in six years
- Homebuilders slide as nationwide price gauge declines
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U.K. property prices stagnated in July as a slump in London values spread to neighboring areas, according to the Royal Institution of Chartered Surveyors.
After months of decline in the London housing market, largely due to prime properties in the center of the city, prices in England’s southeast had their worst performance since 2011, RICS said in a survey published Thursday. Homebuilders slumped after the report, with Persimmon Plc leading declines.