LONDON (May 29): London homebuyers are getting the biggest discounts in at least six years, according to data from Zoopla. The residential real estate market in the UK capital has been stung in recent years by the introduction of new taxes and the uncertainty surrounding Brexit. The trend is a stark reversal from the peak of London’s real estate market in 2014 when many buyers paid a premium on the asking price for a home. In April, more than half of the London neighborhoods tracked by Zoopla saw a decrease in the percentage of listings with a reduced asking price, compared with a year earlier. “Vendors are thinking, ‘I’m sticking at my price even if takes me two years to sell,’” Hirst said.

Source: The Edge Markets May 29, 2019 09:56 UTC