Brexit could lead to a drop of 3% for London house prices, according to new research. “There will be a palpable shock to the UK economy in terms of GDP, inflation, job creation, etc”, warned Tony Williams of Building Value. “This will spill over dramatically to the residential market, with London bearing the brunt given the international catchment of prospective buyers,” he added. If Britain and the EU are unable to reach an agreement, a drop in housing prices would also be coupled with a weak pound, according to Reuters, making homes in the capital more attractive to foreign investors.
City AM (22/02/2019)