House prices in London plummet as sellers panic

London's property price growth is stagnating at 0.7% - making it the worst performing area of the UK. Many sellers are slashing prices due to prolonged listings and rising supply, particularly in prime areas. Speculation surrounding a potential new property tax in the autumn Budget has left buyers hesitant, compounded by the abolition of the non-dom tax regime, which is driving away wealthy residents. Average house prices in prime central London have dropped significantly since 2014. Meanwhile, transaction levels are notably low, with properties often requiring substantial price reductions to attract buyers. But in some places, where reasonably priced homes continue to attract interest, there are still pockets of demand. Overall, the market's uncertainty is leading to a buyer's market, with many vendors opting to rent their properties instead. 

The Mail on Sunday (21/09/2025)