After a decade of soaring prices, spurred on by hot money flows from Russia and China, London's 2017 property slowdown is accelerating in 2018 as Bloomberg reports house prices are falling at the fastest pace since the depths of the recession almost a decade ago, with thecapital’s most expensive areas seeing the biggest declines. Average prices fell 2.6% to 593,396 pounds ($820,000) in January, according to a report published by Acadata on Monday.That’s the most since August 2009. London’s highest-priced boroughs were the biggest losers over the last year, whilethe largest single drop was recorded in Wandsworth, down almost 15 percent. Wandsworth and Southwark are home to huge speculative property developments facing on to the River Thames – including the Battersea Power Station development – but the market for £1m-plus one-bed properties has shrivelled in recent years