London asking prices for homes fell in November after a 10 percent jump last month as government measures to boost demand failed to offset the seasonal pre- Christmas decline, Rightmove Plc said.
London house prices rose at an unsustainable rate in October as demand from overseas investors added pressure to a market with an already small supply of properties, according to Rightmove Plc.
London home sellers increased asking prices for a third month in November as the city’s wealthiest areas continued to lure overseas buyers, Rightmove Plc said.
London home sellers cut asking prices this month, with affluent districts such as Kensington and Chelsea leading the decline during the seasonal summer lull, according to Rightmove Plc.
London home sellers raised asking prices to a record as they sought to tap the housing-market recovery and benefit from the scrapping of costly disclosure rules, Rightmove Plc said.
Asking prices for homes in London surged to a record this month as values in the borough of Kensington and Chelsea rose to an average 2.2 million pounds ($3.5 million), according to Rightmove Plc.
U.K. home sellers raised asking prices for a seventh month to a record in July, according to Rightmove Plc, which said values will increase twice as much as previously forecast this year.
London house values rose to a record this month and the city’s property market may be further boosted as investors seek a haven from the euro-area debt crisis, according to Rightmove Plc.
London home sellers raised asking prices by the most in two years in October, pushing values in the capital to a record.
U.K. home sellers raised asking prices for a fifth consecutive month, pushing values to a record and giving the market its best start to a year since 2004.
"The excitement about Help to Buy 's early launch failed to buck the seasonal trend."
- Miles Shipside on Nov 17, 2013