Brexit uncertainty dominating the prime property market in London

Brexit uncertainty is dominating the prime property market in London but despite this the residential sector performed reasonably well in the first quarter of 2019, with continued slowing in the rate of price falls, according to the latest research. Across the prime property market values fell by just 0.3% in the first three months of the year, the smallest quarterly fall since the Brexit vote and meaning that the annual rate of price at 2.5% was down from a fall of 3.7% a year earlier. The data from international real estate adviser Savills also show that average prices ended March down 11.9% from their 2014 peak level, while in central London they are 19.4% below that highpoint as at the end of 2018.