Nearly four in 10 London flats resold in the year to August went for less than their owners paid, e.surv finds

e.surv's repeat-sales analysis, published on 6 October, found nearly four in 10 London flats resold in the 12 months to August changed hands below their previous purchase price, against just over a quarter across Great Britain and close to one in five in the Midlands and the north. Its index also shows average prices up 1.5% in the year to September at £328,900, but down 0.2% over both the month and the quarter, with London the only region falling year on year, by 2.3%. For sellers of flats, particularly in London, the South East and the East of England, this means the price paid is no reliable guide to today's value, and building safety, tenure and service charges are weighing on what buyers will offer. For buyers, it is more room to negotiate, though this is a flats story rather than a broad market slide, since houses are still edging up nationally.