Luxury London property is still experiencing low prices and high discounts, but that could be changing, according to the latest edition of the quarterly Coutts London Prime Property Index (CLPPI).

Currently, half of London property valued over £1 million is being sold at a discount, with buyers receiving just over an 11 percent discount on average.

However, the fall in prices is slowing. In the three months to June, prices fell just 0.3 percent, compared with three percent in the first quarter of 2018.

The discount varies between areas. Two-thirds of high-end homes in Hampstead and Highgate are sold below aski...