The UK’s priciest homes are feeling the effects of the recession, according to PrimeLocation.com.
In its Prime Property Index, which tracks the top 25 per cent of the UK market, the average asking price of Prime UK property has fallen £6,234 (1.3 per cent) in two months.
Pricier house in London has taken a particularly high hit, dropping £13,997 over the same period, although that only equates to 1 per cent.
The declines continue a trend, with the July prime asking prices down 0.5 per cent, while August prices declined 0.8 per cent.
Currently, the average asking price of prime homes in the UK is £476,302.
PrimeLocation.com’s Lawrence Hall said: “The market for the UK’s most valuable homes is a resilient and healthy one, which is why this mid-year fall in prices is worth taking note of.
“Owners and potential buyers of the UK’s Prime homes will be keeping an eye on price movements over the coming months as we discover whether this fall in asking prices is a temporary summer lull or whether this is actually sellers getting ready and adjusting prices for the September market.”
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