Pursuits
London House Prices Forecast to Plunge as Brexit Chokes Market
- Property prices in U.K. capital to fall 5.6% next year: Cebr
- Inflation, unemployment, migration curbs may weigh on market
This article is for subscribers only.
London property prices are set to fall next year as uncertainty about Britain’s exit from the European Union damps the U.K. housing market, according to the Centre for Economics and Business Research.
London, and especially the priciest areas of the capital’s housing market, will be most affected, with prices dropping 5.6 percent in 2017, according to the consultancy’s predictions. Across the U.K., while property value growth will accelerate to 6.9 percent in 2016, it’s set to slow to 2.6 percent next year.