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Real Estate

London House Prices Fall Most Since Financial Crisis

  • Values in capital likely fell 2.7% in September, Acadata says
  • Picture less downbeat outside capital and southeast England
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Photographer: Jason Alden/Bloomberg
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London house prices are falling at their fastest pace since the financial crisis, confirming the British capital as the worst-performing part of a slowing market.

Early data point to home values in London declining 2.7 percent in the year through September, the most since 2009, according to Acadata and LSL property Services. A 0.7 percent fall in August marked the first negative reading since 2011 as sellers in some of the city’s most expensive boroughs, including Westminster, Wandsworth and Hammersmith, were forced to cut prices.