A recent report published by The Sun newspaper stated that home prices in some of the wealthiest districts around London slid by up to 15 percent. Houses in Wandsworth, for instance, decreased by 100,000 sterling pounds in one year reaching now 685,567 from 805,460 last year.
Home prices across the capital fell by of 0.8% bringing the average House price in London to 593,396 pounds, which is considered the biggest slide registered in the city’s property market since August 2009.
Cheaper districts showed better performance than the fancy ones as more than half saw a rise in prices over the course of last year.
In respect of sales deals, the number of sold homes dropped by around five percent over the last three months. While London is suffering, other areas in the north are seeing significant robust activity. The average property price in Blackburn rose by 16.4 percent over last year.
Prices in Rutland and Humber jumped by 14.8 percent to reach an average of 350,610 from 305,491. Homes value in Monmouthshire, South West London, saw a significant increase also estimated by 12.8 percent.