Central London property price crash: full story.

 

Central London property price crash: full story.

There is now no denying it - property prices in inner London are crashing, in some cases by more than 20% in the last 4 years. In some instances prices have plummeted by 25% in just 2 years.  One of the worst hit areas is Kensington and Chelsea where house prices have slumped nearly 29% since the peak achieved in October 2021.

Commentators report from official sources that central London house prices have now fallen for 6 months in a row.  By contrast, UK home prices as a whole have risen during the same period.

Various reasons have been suggested for the price crash but one key factor is likely to be overseas buyers staying away. Countrywide say the proportion of overseas buyers registering with them has fallen to its lowest level on record.

One niggling worry for the future is that UK property downturns have nearly always started in London and then rippled outwards to engulf the rest of the country. Could this herald a general recession in the property market?

Jm April 19th 2026.

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