Even London’s Ever-Optimistic Brokers See Gloom for Luxury Homes

London’s top property brokers, who have overestimated house price growth in the city’s priciest neighborhoods for years, have finally thrown in the towel.

Savills Plc — which cumulatively overestimated prime central London house price growth by a margin of 42.7% percentage points in the 11 years through 2025 — now sees back-to-back annual declines. It’s the first time it has made such a gloomy prediction since the aftermath of the global financial crisis.