Tax Fears Loom Over London’s Housing Market, Rightmove Says

London led UK house prices to their first annual fall in almost two years, with the capital and other pricey areas facing the risk of further weakness amid fears of a new tax raid on property, a report warned.

The value of homes put up for sale fell 0.1% in the 12 months to September to £370,257 ($502,010), property website Rightmove said Monday. It was the first year-on-year decline since January 2024, the culmination of a summer of “competitive pricing” in a slow housing market.

The drop was led by sellers in London and southern England offering steeper discounts to ...