Economics
U.K. Home Prices Dip With London Leading ‘Late Summer Sale’
- August drop was the biggest for the month since 2001
- First-time homes are now the cheapest since 2015 in London
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U.K. home sellers are offering the deepest summer price cuts on record as they try to get rid of their homes during the holidays.
The average asking price for homes across the country in August tumbled 2.3 percent from July, according to property website Rightmove’s housing index. In London, the plunge was even steeper at 3.1 percent.