Nerves caused by EU referendum hit property sales and rental values in central London
After a period of increased activity as buyers rushed to beat changes in stamp duty taxes, sales in prime, central London are now experiencing a subdued market. Sales have halved since March, with at least one agent, W.A. Ellis advising landlords to cut rents. Head of the agency, Lucy Morton, commented, “There are reports of recruitment freezes across the city and firms delaying relocating staff to London to see what awaits the UK post-referendum.” She went on to say that these moves have led to an unprecedented surplus of stock that has put further downward pressure on the rental market.
Full story available from Property Industry Eye: http://www.propertyindustryeye.com/sales-halve-in-central-london-as-eu-referendum-rattles-buyers-nerves/