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London Housing Boom to End Next Year on Brexit, Broker Says

  • Countrywide sees home values falling for first time since 2009
  • Prime central London prices to drop as much as 6% this year
London From The Air
Photographer: Tom Shaw/Getty Images
Updated on

Home values in London will fall for the first time since 2009 next year on economic uncertainty resulting from the U.K.’s vote to leave the European Union, according to Countrywide Plc.

Price growth for homes in the capital will slow to 3.5 percent this year and drop by 1.25 percent in 2017, the country’s largest real estate broker said in a report on Monday. Countrywide in December forecast that values would increase by 4 percent this year and next. Prices for properties in prime central London will drop as much as 6 percent this year and be little changed in 2017, the report showed.