London Luxury House Prices Down

London luxury-home prices rose at the slowest pace in a year in the third quarter as owners put more properties on the market and demand weakened.Londons highest annual growth was almost 12 percent in the southwest, which includes Battersea, Wimbledon and Chiswick. Values there advanced 0.3 percent from the second quarter.

Southwest London is favored by owner-occupiers, many of whom are employed in banking and financial services, because of the relatively high proportion of family homes and good schools.

Next best was east London, including Wapping and Canary Wharf, with annual gains of 9.2 percent. Values in north London stagnated from the second quarter to advance 7.7 percent from a year ago.