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London Real Estate Under ‘Real Pressure,’ BlackRock’s Barry Says

Balconies sit on the outside of residential flats near the Canary Wharf financial, business and shopping district in London, U.K., on Tuesday, July 25, 2017. U.K. house prices are "virtually at a standstill" as consumers contend with a squeeze on living standards, Rightmove Plc said.
Photographer: Simon Dawson/Bloomberg
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London’s property market is “under real pressure,” according to Jim Barry, global head of BlackRock Inc.’s real assets business.

“Being long in commercial real estate in London is not the trade,” Barry said at a conference in Dublin on Wednesday. “So this has massive implications. ”