The drop in prices of super-prime London homes is filtering down to the luxury sector, figures from Lonres show.
Sales prices per square foot for homes in that sector – those priced between £2m and £5m – fell by 8.4% on the year in the second quarter; prices in the super-prime sector – those costing more than £5m – were down 3.2%.
The very top end fell first and hardest, and the decline is starting to filter through to the prime central London market, the head of research and data analysis at Lonres, Marcus Dixon, said.
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