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Research by online estate agents HouseSimple.com has found that this represents an increase on the 29.7% figure recorded in February.
In the boroughs of Richmond upon Thames and Kingston upon Thames more than 45% of properties for sale have had their prices reduced (45.8% and 45.3% respectively).
Alex Gosling, CEO of HouseSimple.com, said: “These figures only support the view that the London property market has run out of steam.
“Agents are dropping prices to persuade cautious buyers to purchase in an economic climate where it’s difficult to predict what’s going to happen next.
“What’s unusual about the level of discounted properties is that it would suggest there are too many sellers and not enough buyers.
“But strangely this market is still suffering from a lack of new supply.
“There are actually plenty of buyers looking, but they’re a different buyer from 12 months ago.
“They are more cautious and viewing multiple properties before making a decision.
“Long gone are the days when buyers were diving in to avoid missing out as the market accelerated away from them.
“Also, plenty of sellers are still hoping to market at mid-2016 prices, but it’s a different market now, post-Brexit and general election.
“Anyone committed to selling may have to accept that they need to drop their prices if they want to attract buyers.”
In the boroughs of Bromley, Harrow, Hillingdon, Hounslow more than 40% of listed properties have had a price drop.
Newham (25.7%) has the lowest percentage of listed properties with a reduced price.
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