London house prices fell by 4.8% in 2023, faster than any other region and close to a 15-year high, but nowhere near the property market crash that was predicted.
According to Land Registry data, the average London house price was £508,000 in December 2023. While that marks a fall of £25,000 on a year-on-year basis, it’s a long way from predictions of a double-digit percent crash for the capital’s property sector.
