London’s luxury postcodes see fall in house prices

stamp duty cut to push up prices
House prices likely to rise as a result of stamp duty cut

Data from the estate agency Stirling Ackroyd shows that London’s luxury postcodes have seen prices fall by as much as 11.8% over the past year. Kensington High Street in west London recorded the biggest fall between the first quarter of 2015 and the same period in 2016, dropping to an average of £1.8m. Andrew Bridges, managing director of Stirling Ackroyd, said the price fall was due to several factors, “from a low global oil price and China’s economic slowdown, to stamp duty reform and international fears of Brexit”.

 

Full story available from The Guardian: http://www.theguardian.com/money/2016/may/17/house-prices-drop-london-luxury-postcodes

 

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