Thursday, October 29, 2020
UK

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

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 per cent 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 per cent.

“The very top end fell first and hardest on higher stamp-duty charges and the Brexit vote,” Marcus Dixon, head of research and data analysis, said in a telephone interview. “Now, with further political uncertainty, we are starting to see falls filter down into prime central London.”

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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