Central London home prices seen stagnating as buyers 'give up'

London

THE price of homes in central London will stagnate next year as prospective buyers priced out of the UK capital look for property farther afield, according to property website operator Rightmove.

Asking prices in outer London will rise 6 per cent, creating a 3 per cent gain across the capital, said Rightmove in a report published on Monday. Prices in London fell 0.5 per cent this month, compared with a 1.1 per cent drop nationwide.