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Record number of new luxury homes remain unsold in London

Terraced houses in London's Notting Hill. The property market has been grinding to a halt as concerns about the economy following the Brexit vote and rising property taxes deter buyers.


THE number of unsold central-London homes under construction will reach a record high this year, increasing the risk that developers' bets on rising demand for luxury properties will go sour.

Homes being built without a buyer secured will reach 10,829, a 24 per cent rise...

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