Prices for houses in the UK fell first time since 2011, Bloomberg reports. London and the most expensive properties are leading declines.

Asking prices fell by 0,2% to 302023 pounds compared with the last year. Besides, it is 1,7% lower than in October. And this is the largest monthly decline since 2012.

UK’s real estate market is weakening after continuous growth, during which prices rose significantly more than wages. Uncertainty about UK’s exit from EU make buyers behave more cautiously and sellers to reduce their ambitions while setting asking price.

Prices fell the most in the center of the city by 6,9% to 1,3 million compared with the last year. The far you go from the center, the less dramatic is price slump. In some regions it even showed growth.