Headline: Central London house prices fall sharply as northern regions grow
- 2 hours ago
- 1 min read
Why this matters: The growing regional divide highlights shifting demand away from London and changing affordability across the UK housing market.
Date: 22 April 2026
Tags: UK, Business, Housing
Summary:
Central London house prices recorded their biggest dropsince the 2009 financial crisis.
Average London prices fell 3.3% annually, dropping about £19,000 per property.
Inner London saw a steeper 5.6% decline, losing roughly £36,700 in value.
Prime areas like Westminster and Kensington and Chelsea saw double-digit price falls.
Westminster prices dropped 12.7%, while Kensington and Chelsea fell 11.2%.
Across the UK, average house prices rose 1.2% to £268,000.
Northern regions led growth, with Yorkshire and the Humber up 3.9%.
Higher taxes and stamp duty deterred overseas buyers in London’s prime market.
Rising mortgage costs and geopolitical instability have weakened demand.
Flats performed worst, with London apartment prices falling 6.1% annually.
What’s next: Market conditions will depend on interest rates, inflation, and whether buyer demand returns to London.
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