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Londoners cashing out, selling houses in city

They are buying suburban, country homes as they expect rates to rise

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Moving on: London house prices stagnated last month compared with the prior month, the first time there's been no growth since December 2012. - PHOTO: BLOOMBERG

[LONDON] For equity-derivatives broker Andrew Adamson, it was a trade too good to pass up.

In October, he was offered £1,000 (US$2,100) per square foot for his London townhouse. Other homes in the area were going for about 30 per cent less. Mr Adamson accepted it immediately.

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