Average new build property prices in England have risen 3.7 % since September 2017 , but since August 2018 they 've fallen 2.1 % , according to figures from the Office of National statistics . Overall prices in England have slipped 0.1 % since October . London , where the price of an average new build is £ 488,763 ( $ 628,629 ) , experienced the most significant annual drop – 0.7 % – , down 3.9 % since 2011 . Analysts said an increase in the upper stamp duty threshold had prevented people in London from moving while other homeowners were adopting a wait - and - wait policy amid Brexit uncertainty .
Average new build property prices in England have risen 3.7% since September 2017, but since August 2018 they've fallen 2.1%, according to figures from the Office of National Statistics. Overall prices in England have slipped 0.1% since October. London, where the cost of an average new build is £488,763 ($628,629), experienced the most significant annual drop – 0.7% – , down 3.9% since August. Analysts said an increase in the upper stamp duty threshold had prevented people in London from moving while other homeowners were adopting a wait-and-see policy amid Brexit uncertainty.