Property

29% of London homeowners drop asking prices ahead of Brexit

11% of properties currently for sale in London have had a price drop of more than £37,800 – the average annual London salary.

Rozi Jones
|
27th August 2019
London 419
"There are great opportunities out there for buyers if they’re bold enough to seize them."

29% of homeowners in London having dropped their asking price ahead of Brexit's October 31st deadline, according to online estate agent Nested.

Its research shows that there are up to £2 billion of potential savings to be had across the capital.

11% of properties currently for sale in London (12,078) have had a price drop of more than £37,800 – the average annual London salary. Key areas to see this price decrease includes Westminster Kensington & Chelsea, Wandsworth, Camden and Tower Hamlets.

A further 18% of properties for sale have seen a price drop of more than 10%.

Jamie Salisbury, property expert at Nested estate agent, said: “Amid this endless uncertainty and gloom there are great opportunities out there for buyers if they’re bold enough to seize them. This is particularly true for homeowners who are trading up, presenting an opportunity to buy a new home that might otherwise have been out of reach.

“With money still relatively cheap to borrow and prices falling, buyers can realistically snap up properties they couldn’t have afforded in a stronger market. Nested is unique in the industry in that we will advance you the money to secure the property you want – making you chain-free - so you don’t miss out on the home of your dreams.”

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