Thursday, July 3, 2008

London property prices tumble

Property prices in London have continued to fall as the slump in value intensifies, according to a leading property consultancy.

The price drop accelerated in June and properties in the capital are now worth 1.7 per cent less than they were in May, said Knight Frank.

Amounting to a loss of 3.1 per cent in value over the last three months – the largest quarterly fall since 2002 - the trend is expected to continue.

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