{
  "id": 7757611,
  "title": "London house price slowdown worsens as luxury areas lose value",
  "url": "https://urgent.news/2026/09/16/london-house-price-slowdown-worsens-as-luxury-areas-lose-value",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-16T09:50:59.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/london-house-price-slowdown-worsens-as-luxury-areas-lose-value/"
  },
  "original_language": "en",
  "account": "London's house prices dropped by 3.3% in July, reaching £550,000 on average, according to the Office for National Statistics (ONS). This marks a sharper decline compared to June's 2.5% fall. The trend of falling property values has been particularly noticeable in affluent postcodes, with losses accelerating in recent months. In Camden, a postcode home to desirable areas like Hampstead and Highgate, house prices fell 10.1% to £815,000 in July, up from 7.1% in the previous month. Kensington and Chelsea, another affluent area, saw its losses slow from 14.7% to 14.1% and Hammersmith and Fulham from 13.3% to 9% in the same period. Despite the ongoing decline, Jonathan Hopper, CEO of Garrington Property Finders, believes some buyers are finding value in the current market. He noted that after months of correction, London's prices seem to be stabilizing rather than continuing to decline. Outside of London, the South West was the only region that experienced a property market decline in July, with house prices decreasing by 0.2%. In contrast, the North East and North West saw significant increases in house prices, by 4.9% and 4.4% respectively. Property market experts have warned that the high property values in London and the South have unfairly burdened buyers with high taxes like stamp duty. Sarah Coles, head of personal finance at AJ Bell, emphasized that the high cost of property has made purchasing a home a significant financial undertaking, leading to a series of annual drops in London's property market.",
  "summary": "House prices losses in London accelerated in June as the capital’s most sought-after postcodes shed value again. The average house price in London dropped by 3.3 per cent in July to £550,000, worse than June’s 2.5 per cent fall, according to the Office for National Statistics (ONS). The capital’s most affluent postcodes have suffered sharp [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}