London mansion prices fall as number of properties for sale booms

Britain’s most expensive homes got cheaper this year as more central London mansions and super-prime apartments sported "for sale" signs.

The average value of homes sold for at least £10m (€12.7m) in London’s most expensive neighbourhoods was £2,757 a square foot in the first eight months, according to estate agent Huntly Hooper. That was 7.4% lower than the record of £2,978 set in 2013. Prices for other homes in prime central London rose.

“Whilst there are record sales being achieved, buyers should not be swayed by headlines suggesting there is a boom in average pricing,” Huntly Hooper director Oliver Hooper said.