Luxury London Home Values to Fall Most Since 2008 on BrexitBy
Savills says buyers will wait to see outcome of negotiations
Broker cuts five-year value growth estimate to 3.2 percent
London’s luxury homes will slump the most since 2008 this year after Britain voted to leave the European Union, according to Savills Plc.
Prices will drop 9 percent, the broker said Wednesday. It estimated in October that values would be unchanged this year. Uncertainty surrounding the outcome of the U.K.’s negotiations to leave the EU will accelerate declines that began when higher sales taxes were introduced last year, Savills said…
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