Prices of prime London properties fell last year due to concerns surrounding the Brexit vote and the rise in stamp duty, with sellers accepting more realistic offers, figures from Savills show.
Prices fell by 6.9% in central London, and by 4.9% for London as a whole.
Transaction levels have progressively improved since summer, the company’s head of UK residential research, Lucian Cook, said. However, that is a result of the adjustment in pricing and should not be viewed as indicating prices will rise in the foreseeable future, he noted.
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