Brexit Fears See Property Owners Slash Asking Prices By Six Figures
Although the market is rising in many areas of the capital, the average price cut prior to a sale in zones one and two was up to £100,131 this year – compared to £59,573 last year.
Following Brexit, 46% of homes sold since the vote had to have their price ‘adjusted’ before they could be sold – compared to a figure of 36% in the same period last year.
The upper end of the market is the hardest hit – with properties in the ‘golden triangle’ around Kensington, Knightsbridge and Mayfair suffering the biggest price cuts as the demand for luxury, high-end properties dwindles.
For more information on asking price figures in central London, read the Standard’s article here.