London House Prices Fell for the First Time in a Year

Bloomberg - London house prices fell for the first time in a year this month, a sign higher interest rates are cooling Britain's property boom, a Rightmove Plc report showed. The average asking price for a home in the U.K. capital slipped 0.1 percent from July, the first drop since August 2006, to 394,268 pounds ($777,575), Britain's biggest real-estate Web site said in a statement today. The survey measured 150,000 properties listed for sale in the four weeks through Aug. 11.