Figures show continued property price falls
house prices in London have continued to drop, the latest figures have shown.
According to the Land Registry, values in the capital fell by 0.4 per cent in November - marking an annual decrease of more than ten per cent.
Waltham Forest is the borough that has seen the most dramatic change, with prices there dropping by 12.7 per cent.
Lambeth experienced a decline of 12.2 per cent, while homeowners in Ealing have seen the value of their properties shed an average of 11.6 per cent.
Those looking for a home in the capital may prefer to rent a house or flat, as the figures suggest that buying could result in negative equity.
Property information firm Hometrack recently predicted that a 12 per cent decline in UK house prices would take place in 2009, as the oncoming recession and potential job losses reduce confidence among would-be buyers.
Published 30th December, 2008
© 2008 Estates IT Limited
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