Foreign buyers desert London

2nd September 2016

Foreign buyers scaled back their interest in London's housing market in the first half of the year, according to research by Hamptons International. It found buyers from overseas accounted for a fifth of all purchases in London, compared with nearly a third in the same period last year. The EU referendum and global economic volatility, along with concerns over higher stamp duty costs, were cited as key factors behind the fall. The retreat was starkest in London’s most expensive postcodes - in Kensington, Belgravia and Knightsbridge the international buyers fell to 43% in the first half, compared with 56% last year.

The Times (30/08/2016)