London home-price drop deepens as rules limit buyers

London

SUE Munden bought her five-bedroom house in the south-west London district of Streatham in November after negotiating the price down to £610,000 (S$1.25 million), about £100,000 less than a similar home on the street sold for in April.

"I did look earlier in the year, but I wasn't able to have an offer accepted at a level I was comfortable with," said Ms Munden, who was surprised to get the property for £90,000 less than the offer price. "I thought house prices were too high."