Aug
14
Londoners Cut House Prices to Lure Buyers in Slowing Market
By-
Rightmove says London homes taking longer to sell after Brexit
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Tax increase and summer holidays also blamed for slowdown
London properties are taking longer to sell this month, despite a summer price cut, as Brexit uncertainty compounds the dampening effect of the holiday season.
Homes in the U.K. capital are staying on the market for five days more than in May, the month before Britons voted to leave the European Union, property website Rightmove Plc said in a report published Monday.
To encourage buyers, owners of inner-London homes cut asking prices by 3.6 percent from July to an average of 784,494 pounds ($1 million); districts further out saw values drop 1.5 percent. It leaves London overall up 2.1 percent on the year, one the slowest growth rates of any U.K. region…
Londoners Cut House Prices to Lure Buyers in Slowing Market
