House prices in London have dropped 1.8% year-on-year as of September, marking the lowest levels in nearly two years, influenced by affordability issues and rising mortgage costs. The average price now stands at £549,942, while other UK regions saw a 2.6% increase. Upcoming tax changes, including potential higher council tax bands for expensive properties, could further strain the market. This decline is attributed to increased supply and lower buyer demand in the capital.
