London Luxury House Prices Plunge Most Since Financial Crisis
- Prime properties in central city now down 5% over past year
- Knight Frank says market feels similar to post-EU referendum
This article is for subscribers only.
Home prices in London’s wealthiest districts fell the most since the global financial crisis in April as sellers agreed to wider discounts to secure deals.
Knight Frank’s Prime Central London Index declined 2.1% in the first full month of the U.K.’s coronavirus lockdown, the most since January 2009. A further 1.4% decline in May means prices are now down just over 5% in the past year, the broker’s data show.