London homes' asking prices fall in March amid election jitters

London

ASKING prices for London homes declined in March as affordability constraints and pre-election jitters denied the property market its usual spring boost.

Prices demanded by sellers fell 0.4 per cent following a 2.8 per cent jump in February, property website Rightmove plc said on Monday. It was the first decline seen in March for three years and took the average London house price to £580,308 (S$1.194 million). Values in England and Wales rose one per cent.