19 August 2014 - Facing tougher mortgage rules and the prospect of rising interest rates, asking property prices in London have observed a record drop in August. According to data from Rightmove, the average asking price of a property in England's capital has fallen £7,758, the largest monthly dip it has ever recorded.

 

The drop is thought to be largely fuelled by a slowdown in the city, where prices dived by 5.9%, a record drop since 2007. The survey showed that the average asking price of a newly-marketed property in England and Wales is down 2.9% this month compared to July.

 

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