Property News

Monday, August 21, 2006

Summer Dip

'London prices declined by 1.5 per cent during August, taking the average house price down from £324,452 to £319,428.' according to the latest Rightmove house price index. This is the first time house prices have fallen in London since December.

Prices in Richmond-upon-Thames fell by 3.6 per cent and other affluent areas of the capital like Greenwich and Hammersmith and Fulham also saw significant reductions in property value, decreasing by 3.1 per cent and 2.9 per cent respectively.

After recent house price rises, this could indicate the start of a period of stability in the housing market.

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