Economic turmoil hits prime London market as fall-throughs & price cuts soar

10 October 2022

Prime Resi

The Prime London market saw a spike in fall-throughs, withdrawals and price cuts in the wake of the so-called “mini-budget” last month.

September is traditionally one of the biggest months in the property calendar, but the latest numbers from LonRes suggest the political and economic turmoil dealt a blow to confidence levels.

The number of sales falling through rose by 88% during the final week when compared to last year; meanwhile, price reductions soared by 76%; and 48% more properties were withdrawn from the market.

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