The prime London market continues to showcase its resilience. Average price falls across prime London are significantly lower than during both the global financial crisis a decade ago, and the recession of the early 1990s. And as we are approaching the October Brexit deal deadline, there are indications that prices might be bottoming out.
Although political and Brexit uncertainty remain, an increase in new supply has led to more choice across the market and there has been a slight uptick in sales volumes during the spring compared to the start of the year. Price sensitivity and the present commonality of reductions across the market place offer leverage for the buyers who are willing to negotiate, while the relatively low value of sterling continues to provide opportunities for the international investor.
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