Headwinds keep London house prices in check

London

LONDON property sellers are reining in their expectations as demand for homes continues to ease and the slowdown across the market shows few signs of letting up.

Asking prices in the city rose 1.6 per cent in August over the past year, Rightmove plc said on Monday. While that is up from the July pace, it is well below a 2014 peak above 20 per cent and only the second time this year that the annual rate of increase has topped one per cent. On the month, prices fell 1.9 per cent amid a traditional summer lull.