London house prices have hit a soft patch.
The Royal Institute of Chartered Surveyors says a net 56 per cent of respondents saw a fall in prices in the city in August, making this “the weakest result since 2008″. Set against a net 6 per cent nationally seeing a rise in prices, that suggests strong local factors are at play.
It added (with our highlights):
Although headline price expectations remain subdued over the next three months, at the 12-month horizon, prime central London remains the only area in which prices expectations are negative.