Insights 21/07/2016
Even before Brexit prime London property values were falling from their 2014 peak. I cannot help but feel this is a pessimistic view - on speaking to Middle Eastern clients, London remains their focus for high end Real Estate purchase especially as it has become considerably cheaper for them due to the fall in the value of £.
KPMG are expecting prices to fall outside London at 5% which I can see is likely if not happening already.
Prices of luxury London homes 'could fall as much as 50pc' House prices in areas such as Mayfair could fall up to 50pc House prices in the most expensive postcodes of central London could fall by as much as 50pc, according to analysis by Société Générale. The French bank said that Brexit could result in jobs in the City being cut and businesses potentially moving abroad, if access to the single market is denied. City workers would then have to sell their homes, which are mostly in very expensive areas of London, in order to relocate. http://www.telegraph.co.uk/property/house-prices/prices-of-luxury-london-homes-could-fall-as-much-as-50pc/
http://www.telegraph.co.uk/property/house-prices/prices-of-luxury-london-homes-could-fall-as-much-as-50pc/
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