London house prices dip but the wider property market remained robust in October – UK HPI

'The downturn in the housing market this time could be shallower compared with past experiences,' says Simon Rubinsohn, Chief Economist at the Royal Institute of Chartered Surveyors.

Spending on £10mn+ homes in London has reached a seven-year high, leading Knight Frank's Rory Penn to suggest that 'for now, the super-prime market in London has very much found its feet again.'

'We are on the cusp of seeing the sales market hand back purchasing power to buyers,' says Propertymak, 'which is a trend we haven’t seen in months as the market was very much in the seller’s favour.