London house prices are falling at the fastest pace since the depths of the recession almost a decade ago, with the capital’s most expensive areas seeing the biggest declines.

According to Acadata, average prices fell to £593,396 in January. An annual decline of 2.6 percent, that’s the most since August 2009.

The city will be the weakest performing market in the country over the next five years, said Lucian Cook, head of residential research at broker Savills Plc, as a decade of soaring prices means London’s more exposed to political and economic uncertainty, the prospect of interest rate increases and mortgage loan limits.

Partly due to tax changes, weakness in prime property in the U.K. capital is rippling out to other locations in the city and around the Southeast. London prices fell 0.8 percent in January alone, according to Acadata, which publishes detailed regional data with a one-month lag. That shows the weakness that was present for much of last year continued into 2018.

London’s highest-priced boroughs were the biggest losers over the last year, while the largest single drop was recorded in Wandsworth, down almost 15 percent. The borough has seen a sharp surge in the number of expensive apartments being built there that Londoners don’t want or can’t afford.