Former Los Angeles Galaxy midfielder David Beckham has reportedly decided against selling his home in the US after discovering that its value had plummeted.

The 37-year-old left the MLS club earlier this month and has been rumoured to be moving back to England with his family after he was spotted looking around an elite London school for his 13-year-old son Brooklyn.

"David and Victoria originally considered selling up but then had their home valued," The Mirror quotes a source as saying. "Unfortunately, they bought it at the peak of the housing boom and before the US property crash.

"Despite spending heavily on the place over the years, it simply doesn't make sense to sell up now. They will hold on to it, use it as their Californian base and hope the market picks up."

Beckham and his wife Victoria are believed to have bought the LA mansion for £11m in 2007 but reports have claimed that the house is worth a third of that valuation now.