Here’s How London House Prices Are Being Battered
- One vendor in capital sees 80% drop in buyer registrations
- BOE rate hike, Brexit seen weighing on London’s market
Apartments near Canary Wharf, London.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
London’s housing market is being battered from all sides.
A survey by the Royal Institution of Chartered Surveyors showed a price gauge at its lowest level for seven years, and far below the national average. Real-estate agents are more pessimistic about the market in the capital than any other region, with contributors flagging a potent mix of concerns, including Brexit uncertainty, the Bank of England’s interest-rate hike and the government’s budget later this month.