The latest market report from property consultancy firm Knight Frank found that prime residential prices in central London fell 3.9% on the month in October, the fastest rate of decline since the property consultancy firm started the survey back in 1976.

Overall, house prices fell 3.8% on the month and apartments fell 4%.

Since the peak of the market in March this year, prices have fallen by 13.4%. And the six monthly decline in price - from May to October - was 12.4%.