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Analysis of 1,509 Bromley sales reveals West Wickham owners lowered their asking prices by an average of £16,262, the steepest discount in the borough. Across all postcodes the average cut was £14,615, while Swanley saw the smallest reduction.
House prices in London have seen an annual decline of 3.1% in the 12 months to July 2026, with the average asking price now standing at £646,451. Commuter towns such as Haywards Heath and Maidenhead experienced more significant drops.
Luxury property developer London Richmond Limited has entered administration, appointing BTG Begbies Traynor as administrators on 12 August 2026. The collapse follows an 8-year record fall in UK house prices, with London’s average asking price dropping 3.1% annually, according to Rightmove.
The average asking price for newly listed homes in Kensington & Chelsea fell by £95,000 between July and August, Rightmove reports. London recorded the steepest regional decline, with a 4.4% drop, as the number of available properties reached a 16-year high.
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