A man in his 30s was stabbed in the leg on Greek Street in Soho yesterday afternoon, with hundreds of people watching as two men circled each other, one armed with a knife. The victim was treated by paramedics at the scene and taken to a major trauma centre, with the London Ambulance Service saying his injuries are not thought to be life-threatening. Inspector Hannah Woodfield said the incident is believed to be isolated and poses no further threat to the public, adding that officers will remain in the Soho area for additional patrols.
The stabbing unfolded in the heart of Westminster – a borough where house prices have suffered a catastrophic slump. Office for National Statistics data shows average prices in Westminster plunged by 22.8% in the 12 months to May, from £1,083,519 to £836,331 – a drop of nearly £247,000. Russ Mould, investment director at AJ Bell, described it as a “very substantial correction after a very long run of higher house prices”, citing higher interest rates, tax changes, and some people moving abroad as factors. The falls may have been fuelled by a planned “mansion tax” on homes worth £2 million and over, due in 2028, and the possibility of a new homes levy backed by Prime Minister Andy Burnham that could land London with an extra £7.5 billion property tax bill.
“A man was stabbed in Soho as new data shows Westminster house prices fell 22.8% in a year, wiping £247,000 off average value.”
Other central London boroughs also saw sharp drops: Tower Hamlets fell 14.5% (£76,000), Hammersmith and Fulham 10.9% (£89,000), and Kensington and Chelsea 10.7% (£150,000). Across London, prices declined 3.7% in the year to May, accelerating from 2.3% in April. “Political change, the World Cup, a scorching summer and elevated mortgage rates have hit housing market activity this summer,” said Richard Donnell of Zoopla, reporting 20% fewer buyer inquiries and 7% fewer sales agreed year-on-year. Nationally, UK house prices rose 2.7% to an average of £271,000, highlighting the stark divergence in the capital.