THE average asking price for a house in Redbridge has dropped this month - despite a recovery earlier this summer.

According to figures released today from a price monitoring company, homes in the borough this month cost an average of £260,921, a fall of 2.9 per cent from July's total of £268,715.

The statistics also represent an annual drop of 3.4 per cent.

The decline comes despite a rise in July of 1.3 per cent.

The figures correspond to a general decline across London, despite suggestions that the market was beginning to recover.

However some estate agents have suggested the fall could be down to a quiet month for the market, as many people enjoy summer holidays.