London flats lose their appeal

According to new figures published by Bloomberg, based on an analysis of UK Land Registry data, the value of London flats has plummeted by 11% since 2020 with the median sale now less than £400,000. Prices have fallen particularly in areas where newbuild developments are most prevalent. The figures come at a time when monthly UK house prices overall rose at their fastest rate in 18 years. In London, too, which has lagged behind the rest of the country, according to the Bloomberg figures the median price paid for a house has reached a new high of £634,000. Analysts say suburbs are once again cool for the millennial generation, while city centre living appears to have lost its lustre.

The Daily Telegraph