London’s luxury homes hit hardest by Brexit

9th September 2016

While the market for London’s top-end homes was already slowing before the Brexit referendum, analysts at UBS believe the vote has dented confidence further. A year ago there were roughly four-and-a-half times as many such homes on the market as there were homes sold subject to contract. The ratio is now at a new high of more than 7.5 times. By contrast, ratios for homes costing below £150,000 and between £150,000 and £250,000 – predominantly outside London – have remained just below one-times since February. UBS analysts expect the number of transactions in the capital to fall by 6% in 2016 and 10% in 2017, causing house prices in London to fall by 10% by the end of 2017..

The Daily Telegraph (06/09/2016)