London Homeowners Are Desperately Slashing Prices
These are the places to look if you want to see the worst-affected areas.
Residential property in north London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
More London home sellers are having to cut the asking price of their homes, and they’re offering deeper discounts as political uncertainty and high values dampen demand.
“Price cuts seen in prime central London in the immediate aftermath of Brexit are now filtering through to outer boroughs,” said Savills Plc residential research director Lucian Cook. “Affordability issues are now a problem after a decade of house-price growth, and buyers are finding they increasingly come up against mortgage-lending limits."