Prices for central ##ised residential property may have bottomed out , according to estate agent Knight Frank . Land values have not fallen for two consecutive quarters , with a year - on - year price drop of only 3.5 % , the lowest annual drop since Q1 2016 . Property had seen a consistent decline in value since the second half of 2015 , with the 2016 referendum blamed for a drop of 6.9 % in Q2 2016 . The new plateau indicates that the market prices have stabilised after increased stamp duty rates and more stringent affordable housing policies .
Prices for central London residential property may have bottomed out, according to estate agent Knight Frank. Land values have not fallen for two consecutive quarters, with a year-on-year price drop of only 3.5%, the lowest annual recorded since Q1 2016. Property had seen a consistent drop in value since the second half of 2015, with the EU referendum blamed for a drop of 6.9% in Q2 2016. The new plateau indicates that the market may have stabilised after increased stamp duty rates and more stringent affordable housing policies.