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Smaller London Home-Price Drop Shows Bottom Near, Rightmove Says

  • Dearth of sellers is slowing price declines in the capital
  • Values nationwide slip 0.2%, the first monthly drop of 2019
Bloomberg business news
Rightmove’s Miles Shipside discusses London’s housing market and his outlook for the U.K. economy.(Source: Bloomberg)

London house prices fell less than usual this month as sellers held back in a sign that the market may be stabilizing, according to Rightmove.

Home values in greater London slipped 0.2%, compared with an average 0.6% drop for July over the past five years, the property website said on Monday. From a year ago, prices slid 1.7% to an average 617,941 pounds ($775,000).