House prices have fallen in London for the first time in nearly two years after a period of frenetic hikes in value, as demand in the capital finally dissipates. More “modest” price drops in the London market are to be expected to follow, according to the latest Hometrack report, as buyers reject inflated prices and force vendors to slash their expectations. London suffered the most pronounced slowdown but overall the UK house prices stalled, recording zero growth for the first time in 19 months. The combination of over-inflated prices, slow wage growth, stricter mortgage lending conditions and anxiety ahead of ... (full story)