The number of homes valued at £1m or more is falling in London and the South East.
There are 34,849 fewer homes in the £1m-plus bracket in London and 8,943 fewer in the South East than a year ago, according to Zoopla, the property website. Across Britain there are 733,777 seven-figure properties, down from 768,553.
Property prices fell by 0.6% in London last year, according to official figures, but falls at the top end were much greater. Knight Frank, the estate agency, said that in wealthy central London areas prices fell by up to 4.6%, with buyers deterred by stamp duty and uncertainty surrounding Brexit.
