London boom to end next year on Brexit

London

HOME values in London will fall for the first time since 2009 next year on economic uncertainty resulting from the UK's vote to leave the European Union, according to Countrywide Plc.

Price growth for homes in the capital will slow to 3.5 per cent this year and drop by 1.25 per cent in 2017, the country's largest real estate broker said in a report on Monday. Countrywide in December forecast that values would increase by 4 per cent this year and next. Prices for properties in prime central London will drop as much as 6 per cent this year and be little changed in 2017, the report showed.