Owners of London's most expensive homes are racing to sell up before house prices fall further

14 October 2020

The Daily Telegraph 

A flood of London's most expensive homes are now for sale as sellers rush to shift their properties before the market heads downhill – but prices are already falling.

The number of prime London homes coming to the market in September was nearly double the level in the same period in 2019, according to LonRes, a property analysis firm.

New instructions increased last month by 99pc year-on-year, after jumping 98pc in August. LonRes defines "prime" property as those located in the most expensive areas of central and west London.

This means that supply and demand are out of sync. The number of exchanges over the same period was down 18pc,  and sale prices dropped by 1.6pc year-on-year.

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