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London’s Super-Prime Housing Slump Spreads to Luxury Properties

  • Political uncertainty deterring potential buyers, Lonres says
  • Sales across prime central London market down 40% from 2014
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KKR's Rosenberg Says London Property Prices May Fall 10%

A slump in super-prime home values in London is rippling down the luxury-property market.

Sales values per square foot for houses priced between 2 million pounds ($2.6 million) and 5 million pounds fell by 8.4 percent in the second quarter from a year earlier as political uncertainly deterred potential buyers, according to data compiled by researcher Lonres. Selling prices for super-prime properties -- those over 5 million pounds -- fell 3.2 percent.