Smaller London home-prices show drop

LONDON house prices fell less than usual this month as sellers held back in a sign that the market may be stabilising, according to Rightmove. Home values in greater London slipped 0.2 per cent, compared with an average 0.6 per cent drop for July over the past five years, the property website said on Monday. From a year ago, prices slid 1.7 per cent to an average £617,941 (S$1.05 million). The UK's decision to leave the European Union has weighed on the housing market since the 2016 referendum, with London hit particularly hard. Still, low interest rates, record employment and short supply of homes are preventing a sharper decline.