Rise in luxury London home prices slows over higher taxes

London

HOME values in prime central London rose by the least in more than five years as higher taxes damped demand and Chinese buyers were deterred by their currency's devaluation.

Prices climbed 1.7 per cent in the year through August in the 13 districts that Knight Frank LLP defines as the capital's prime areas, the broker said in a report on Monday. Values fell 2.4 per cent in Knightsbridge and 4.6 per cent in Notting Hill.