Data throws new light on post-Referendum London market
A report by the Vyomm property portal suggests things aren’t quite what they’ve seemed in London’s troubled market. In terms of market activity, it’s not the prime sector that’s been hit the hardest, but the “bread and butter” <£1m sector, with a 20.49% drop in sales since 2014, compared to a 1.9% fall in the £1m to £10m sector in the same period. Super-prime has seen a 17.2% drop. Perhaps it’s a reluctance to do a deal that’s slowed the sub-£1m sector. Where prime London property has seen falling prices (-5.34%), lower priced properties have gained in value by 16.5%. The very top of the market, where scarcity and individuality mean the rules are different, has gained 19%.