London Apartments Are Cheap — For a Reason

London property prices have fallen 15% in real terms over the past decade, with apartments 22% cheaper and one in seven selling at a loss. This compares with a 5% increase across the UK as whole. With London more affordable than it's been for at least 10 years, is now the time to snap up a bargain in Britain’s capital? Well, it depends. Spoiler alert — the odds are very much stacked against you.

The London market is quite different from the rest of the country. The capital delivers higher wages and has international allure, which has driven the value of a typical London home to more than double the national average. But market forces cut both ways; Brexit and the scrapping of non-domicile status for wealthy foreign nationals have undermined demand, hitting high-end dwellings especially hard.