Residential sales in London fell by 23% in the first nine months of the year, according to estate agency Foxtons.
The firm said high interest rates had triggered a historic collapse in the capital’s property market.
The estate agent’s revenue from property sales fell by 18% to £26.9m over the same period.
Foxtons’ lettings revenue rose by 8% to £31.6m between July and September, however, driven by a surge in rent prices across the capital.
