One of Britain’s biggest housebuilders has started cutting prices on some of its most expensive London homes because of waning demand at the top end of the market. David Thomas, the Barratt chief executive, said: “Market conditions in London at higher selling prices remain more challenging. Thomas said the company was lowering prices by about 5% to 10% on a few of its most expensive, centrally located London sites in zones one and two. He said that in another move to “de-risk” its London portfolio, Barratt had exchanged on a “build and sale” agreement, selling a whole development of 39 apartments for £47m. “This has been another good trading period for the group.

Source: The Guardian November 16, 2016 08:13 UTC