The discounts achieved by the Germans indicate that true London prices may be much softer than those publicly advertised, suggesting that even a smooth Brexit transition will do little to lift London real estate prices anytime soon. Despite the uncertainties of Brexit, Central London’s famously high-priced real estate appears on the surface to have kept much of its value, even if it has not matched the rising value of real estate elsewhere in Britain. Sale prices have dipped less than 1 percent in the last year, experts say. They say most potential London sellers have delayed their sales, rather than offer them at deep price cuts. The number of high-end transactions is down 25 percent compared with last year, a statistic that points to a heavy pent-up supply, according to Adam Challis, the head of residential research for the JLL real estate agency.

Source: New York Times February 25, 2019 17:04 UTC