---
title: London House Prices Fall 4.4 Per Cent as Homes for Sale Reach a 16-Year High
description: London asking prices fell 4.4 per cent in a month, homes for sale are at a 16-year high and mortgages cost about 5 per cent. Our view on buying this autumn.
author: Dr Marina Nani (Editor-in-Chief)
date: 2026-09-07T14:35:34.625Z
updated: 2026-09-07T14:36:33.350Z
canonical: https://www.sovereignmagazine.com/article/london-house-prices-fall-homes-for-sale-16-year-high
image: https://cdn.nanimediahouse.com/pexels-historic-row-of-terraced-houses-in-london-on-a-bright-sunny--38338521.jpg
categories: Real Estate
content_type: Analysis
region: United Kingdom, London
publication: Sovereign Magazine
access: members
schema_type: Article
---

The average asking price of a London home fell 4.4 per cent in a month to £646,451 in the latest[ August index](https://www.rightmove.co.uk/news/house-price-index/), and the 3.1 per cent fall on the year is the largest of any region in Britain. Rightmove counts more homes for sale in the capital than at any point since 2010. A London home now takes 73 days on average to find a buyer, 10 days longer than the national figure.

Sold prices have moved further than asking prices in [the prime boroughs](https://www.sovereignmagazine.com/article/best-london-s-location-what-s-really-happening-to-the-most-expensive-properties-values-this-autumn). Provisional figures from HM Land Registry for June put the average sale in Westminster at £854,000 against £1,145,000 a year earlier, a fall of 25.4 per cent, with Kensington and Chelsea 14.7 per cent lower at £1,250,000. Sellers who listed in the spring have sat through a summer in which buyer demand, on Rightmove's count, ran 10 per cent below last year.

The Bank of England's Monetary Policy Committee meets on Thursday 17 September, having held Bank Rate at 3.75 per cent on 30 July by six votes to three, with the three dissenters voting for a rise, and the last move was a cut from 4 per cent on 18 December 2025. The new Chancellor, John Healey, delivers his first Budget on Wednesday 28 October. Our view is that a buyer with a deposit, patience and a horizon of 10 years or more is looking at the best moment London has offered in years, and that neither date is a reason to sit out the autumn.

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