People selling their homes have cut the asking price by an average of more than £4,300 in the past month to catch the eye of a dwindling number of buyers, according to a report published today.
The latest monthly survey from the property website Rightmove says the number of unsold properties has reached record levels as [...]

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Homeowners have been forced to cut the asking price on their properties by 1.2 per cent during the past month as the reality of the housing market downturn hits home, according to figures published by the property website Rightmove.

Householders in England and Wales had to reduce the cost of their home by nearly £3,000 during [...]

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 Luxury-home prices in central London, the world’s most expensive location for prime real estate, fell the most since the first quarter of 1992 as sales slumped, Knight Frank LLP said.
The average price of houses and apartments costing more than 2 million pounds ($3.9 million) fell 1.5 percent in May from a month earlier, Knight Frank [...]

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Boris Johnson has been elected mayor of London - but it is not until Monday morning that he will officially take control of this major capital city.
When that happens he will face a huge challenge, as mayor, he will be in charge of everything from transport to the policing of London as well as [...]

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April 30 (Bloomberg) — U.K. house prices fell in April from a year earlier, the first annual decline since 1996, after the credit squeeze dried up finance for property purchases, Nationwide Building Society said.
The price of an average home dropped 1 percent to 178,555 pounds ($352,000), said Britain’s fourth-biggest mortgage lender. Its index is one [...]

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The extent of sub-prime lending in Britain could be a lot worse than is commonly assumed because a large number of homeowners have more than one loan secured on their property, according to the property research group UKValuation.
As a result, true loan-to-value (LTV) ratios are often higher than is usually thought, which, in turn, could [...]

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This is Money

Property slowdown: even London feels pinch
This is Money, UK - 5 hours ago
The trend has even affected prime properties in central London. Sales of expensive homes from January to March were down by around 20% on last year’s …
London hit by property slowdown Home Move

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