Prices falling in all but two London boroughs

Mira Bar-Hillel, Evening Standard The average London house is worth £11,500 less than it was a year ago, figures show today. Cut prices: Click to see a table of prices across london There has been an average £4,000 fall in property prices in the capital in the last month alone - the equivalent of £130 a day. The figures, compiled by house price monitor Hometrack, are based on sales rather than asking prices. They prove that a string of recent forecasts of substantial price falls in the next two years are beginning to come true. The biggest loser in the past month was Merton, where average prices fell by £9,500, the equivalent of more than £300 a day. In Hammersmith and Fulham prices are now £8,600 lower than a month ago, and in Wandsworth they are down by £8,500. There were no price rises in any borough last month. The only... [read full story]