World Economy

Big Price Drop

Big Price DropBig Price Drop

Average asking prices in all of London’s 32 boroughs have seen a drop. According to Rightmove’s House Price Index, the average asking price of a London home has dropped by more than £30,000 ($47,206) in November, LondonLovesBusiness reported. The biggest losers were Hammersmith & Fulham and Hackney, where asking prices dropped by 7% and 6% respectively. Asking prices for homes on sale in Britain plummeted 3.3% this month. The year will end with largest ever monthly fall in price of property coming to market – down by nearly £9,000. This year, asking prices across the UK rose by 7% and are expected to grow in 2015 too, albeit at a slower pace.