London House Prices Decline Amid Market Adjustments

Summary: In 2024, London’s real estate market is experiencing price corrections, with a 3.9% drop in prime property prices during the first quarter. High mortgage rates and the cost of living continue to impact buyer affordability, particularly in central areas. Despite these challenges, certain districts like King’s Cross and Walthamstow remain attractive for investors, driven by ongoing redevelopment projects and rental demand. Looking ahead, a gradual market recovery is anticipated, especially as mortgage rates stabilize and demand increases.