London suffers the fastest fall in house prices of anywhere in the UK

London house prices fell faster than anywhere else in the country in March as the impact of Brexit finally caught up with the property market. The average price of a home slipped 1.5 per cent in March to £471,742, dragging the year-on-year rate of increase down to 1.5 per cent, the slowest since 2012. The house price figures from the Land Registry came as the Consumer Prices Index rate of inflation jumped from 2.3 per cent to 2.7 per cent, its highest rate since September 2013. The biggest year on year falls were in The City, Tower Hamlets and Islington, all areas favoured by workers in the key financial services sector thought to be vulnerable to the fallout from the Referendum vote.