The number of homes sold in the most expensive postcodes of London fell by 3.6 per cent last year compared with 2016, reflecting a wider slowdown across much of the UK. Transactions fell in the “prime” areas of the capital’s housing market, particularly for homes priced below £2 million, according to Lonres, a property data provider. Estate agents also reported an increase in the number of viewings and the amount of time a property spent on the market before finding a buyer, while about 60 per cent more properties were withdrawn from the market than in the previous year. The most common reason for taking a home off the market was an inability to reach a price that that suited homeowners. The areas for the…

Source: The Times February 06, 2018 00:00 UTC