London home prices lose most in six years

Source: Bloomberg
© Scanpix/Reuters
London asking prices were cut the largest amount in six years by the home sellers for August. With prices falling 5.9% in London, the largest fall since 2007, nationwide the prices fell 2.9%, which was an August record. Even though demand for homes usually weakens in the summer, this huge fall was mainly influenced by the new mortgage rules and expected higher interest rates.
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