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\t\tLondon’s priciest areas have seen huge value slumps\t<\/p>\n\t\t\tWednesday 19 August 2026 10:58 am
\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n
\t\t\tWednesday 19 August 2026 11:22 am\n\t<\/p>\n
\t\tLondon’s priciest areas have seen huge value slumps\t<\/p>\n
House prices in London\u2019s most sought-after areas plummeted further in June, with the average price in some postcodes falling by nearly \u00a3300,000 year on year.<\/p>\n
London\u2019s average house price<\/a> slipped by 2.5 per cent to \u00a3554,000 in the year to June, according to<\/a> the Office for National Statistics (ONS).<\/p>\n Though this was a softer fall than May\u2019s 3.1 per cent, prices in some of London\u2019s most up-market areas suffered far bigger drops.<\/p>\n The average house price in the borough of Westminster \u2013 which includes luxury postcodes like Mayfair, Belgravia and St John\u2019s Wood \u2013 fell by 25.4 per cent to \u00a3854,000 in the year to June.<\/p>\n This marks a drop of \u00a3291,000 in only a year. In Kensington and Chelsea, the average house price slipped by 14.7 per cent to \u00a31,250,000.<\/p>\n In Hammersmith and Fulham, house prices fell by 13.3 per cent to \u00a3726,000, while Camden saw a 7.1 per cent drop to \u00a3833,000.<\/p>\n London\u2019s 2.5 per cent drop in prices marks the tenth consecutive month in which value has been stripped from the capital\u2019s housing market.\u00a0<\/p>\n The rest of the UK has seen modest growth in recent months, though this slowed in June. The average house price across the country grew by two per cent to \u00a3272,000, down from May\u2019s three per cent growth rate.<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tLondon house prices fall again as property slowdown drags on<\/a><\/p>\n \tLondon housing market \u2018more sensitive\u2019<\/p>\n