EU buyers withdraw from London property market

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Published: 17/06/2016   Last Updated: 17/10/2016  

It has been reported that buyers from mainland Europe have largely withdrawn from the market in expensive London homes as they await the outcome of the UK’s June referendum on EU membership.
Just 9 per cent of people buying “prime” central London houses and apartments in the first quarter of this year came from other EU countries, compared with 29 per cent a year earlier and a five-year average of 20 per cent.
This is despite a 10 per cent fall in sterling against the euro that has made UK homes significantly cheaper for European buyers.