House prices drop in London

London house prices dropped by four per cent in August, wiping out any gains made earlier this year, according to Rightmove. On average £17,000 came off London asking prices in August, the biggest drop in two years. The average London house price now sits at £405,058, falling back to January levels.
Wandsworth and Brent fell by 6.2 per cent, with Newham declining by only 1.2 per cent, and Kensington and Chelsea falling by 1.7 per cent, in line with the national average.