London house prices drop £30,000 in a month: Which borough was hit hardest?

Billy Ehrenberg
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The housing market in the UK cooled by its highest amount (in pounds) on record, according to data from Rightmove.

Greater London was the region that suffered most, with a drop of -5.1 per cent between November and December 2014. It may not be the biggest percentage drop (that was East Anglia with -5.7 per cent) but the average asking price fell further in absolute terms in the capital than in any other region.

London is a city of contrasts and no two boroughs are created equal. The infographic below shows how this big month-on-month drop affected the capital. Darker areas are those where asking prices dropped the most.

It is worth noting that seasonal drops are fairly common and that this one was not unexpected, even if the fall itself was fairly large. Month-on-month stats are also far less reliable than the annual trends, which are largely up.

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