London real estate prices down by 15 pct as Brexit effect deepens

Georgiana Bendre 12/03/2018 | 14:05

The London real estate prices went down by 15 percent as Brexit effect deepens; average price in Wandsworth dips more than GBP 100,000 with falls in capital in 12 months, according to The Guardian.

House prices in parts of London that once reached the UK property boom went down by 15 percent in the past year due to the impact of the EU referendum.

Your Move, one of the UK’s biggest estate agency chains, reveal that the average home in Wandsworth – including much of Clapham, Balham and Putney – decreased by more than GBP 100,000 in value over the last 12 months, according to The Guardian.

Property prices have suddenly increased in the north-west of England, with Blackburn recording the highest growth rates in the UK.

Homes in Wandsworth were valued at an average of GBP 805,000 in January 2017 but this has now fallen to GBP 685,000.

Also, in Southwark, south London, the average price has dropped from GBP 666,000 to GBP 585,000 in 12 months, while prices have pegged back in Islington, north London, from GBP 750,000 to GBP 684,000.

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