Prime central London property prices finally dip
News Category: Industry News
Published: 04-Aug-2010
Prices for prime London property fell in July by 0.5%, the first monthly decline since March 2009, Knight Frank has reported.
Despite the fall, prices are still 23.4% higher than at their lowest point last March, although 6.1% below their March 2008 peak.
Price falls have affected all parts of the capital with the exception of Mayfair, which posted 0.2% growth.
The agents say the main problem facing vendors in the capital is over-ambitious pricing, with asking prices up to 10% higher than buyer expectations.
Article courtesy of Estate Agent Today Sign up for EAT newsletter
