The London housing market is off to a slow start in 2022 as asking prices fell 1.2 per cent from December to January, taking the average price tag to £629,286.
Although the cost of a home coming to market in the capital rose 4.2 per cent over the last year, it was outpaced by the rate of growth across the country of 7.6 per cent.
The supply shortage is not as acute in London as it is in the popular suburbs, market towns and villages across the rest of the South East, which means is why we have not seen such furious price growth in the capital.
The highest asking price growth in the last 12 months was recorded in family-friendly borough of Bromley, which has 160 parks and lots of outdoor sporting facilities. Asking prices rose 10.9 per cent over the last 12 months to £604,742.
The housing market across the rest of the UK continues to overshadow London.