Average property price in London reduced in June

prime-london-price-fallsAverage property in the prime central London market got reduced by 0.2% in June, making it the low monthly result since November 2014. According to the report from real estate Knight Frank, the year on year annual price growth in this sector is down by 0.6%.

Tom Bill, head of London residential research at Knight Frank, says: “Weaker price growth, together with rising economic and market uncertainty surrounding the EU referendum, has pressed sellers to reduce asking prices over recent months. But this is more realistic approach has resulted in an upward in activity, after the referendum result. Following the referendum the number of transactions across prime London was 38% higher than the final week of May. The reduction in asking prices has boosted recent activity; it would be a right time despite of the market risks.”

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