London’s prime house prices fell by 2.1% in the year to September, according to Knight Frank’s latest Prime Global Cities Index.
Prices in the UK capital underperformed compared to other European cities, including Dublin, where prices rose by 5.5% in the same period. Prices in Paris, however, fell by 3.8%.
The study said that the increase in stamp duty has had a bigger effect on the prime London market than the EU referendum, although it added that buyers took a “wait-and-see” approach in the run-up to the vote in June.
It added that the referendum had been a catalyst for overdue price reductions.
Worldwide, 18 of the 37 cities tracked in the index saw their price growth fall in the past three months compared to Q2.
Vancouver topped the list for price growth, with a 31.6% rise in the past 12 months.
