Knightsbridge the worst performer in central London home market

London

KNIGHTSBRIDGE is the worst performing housing market in central London this year as rising taxes curb valuations in the district that's home to the Harrods department store.

Prices fell 6.1 per cent as an increase in the stamp duty charge damped demand and sales volumes fell, according to Rupert des Forges, a partner at broker Knight Frank LLP. The decline compares with an overall gain of 1 per cent for the 14 districts that make up prime central London, the broker said in a report on Monday.