Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
London Flats Price Slump Hits Landlord Exits
Landlords preparing to sell an inner London flat face a market where average prices have dropped by almost £49,000 since June last year. Land Registry figures show an 8.1% fall in the year to August, the biggest annual decline since 2009.
A Daily Telegraph analysis of Land Registry figures, reported by Property118, puts the average price of an inner London flat down by almost £49,000 since June last year. The same figures show an 8.1% fall in the year to August.
The newspaper warns that this is the biggest annual decline since 2009, according to the Property118 report.
The report is framed around landlords preparing to sell an inner London flat, and the market conditions they now face. Property118's headline states that the London flats price slump is hitting landlord exits.
For letting agents and inventory clerks, the report points to a segment of the London sales market where values have moved sharply against recent norms. The figures cited relate specifically to inner London flats, rather than the London market as a whole or other property types.
The source material does not include further detail on transaction volumes, rental market effects, or the number of landlords exiting. This brief therefore summarises only the price movement and the landlord-exit framing reported by Property118.
Source: Property118