Housebuilder Berkeley has warned that London’s property market remains under pressure from high transaction costs, mortgage restrictions and Brexit uncertainty. Housebuilder Berkeley has warned that London’s property market remains under pressure from high transaction costs, mortgage restrictions and Brexit uncertainty. While the group – which is focused on London and the South East – said prices continue to be robust in and around the capital, it cautioned once more over “headwinds” affecting the market. It also called for changes to help developers in the London and South East region overcome woes caused by recent changes to stamp duty and Brexit uncertainty. Looking at the London market as a whole, Berkeley noted that overall transaction volumes were 19% lower than two years ago while new starts were 30% below those in 2015.

Source: Irish Independent September 05, 2018 06:56 UTC