Brexit and stamp duty changes are killing a key part of London's housing market.

LONDON — Sales of new-build homes in London fell sharply in 2016 as changes to stamp duty and the Brexit vote began to bite, according to new Land Registry data.

The data, which was analysed by property fund London Central Portfolio, shows that in Prime Central London completed sales of new-build flats were down 41.4% in 2016 compared to the previous year. The luxury end of the market (£5 million plus) was the worst affected, with an annual fall in new-build sales of 57%.

Average prices also fell by 8.7% to £1.9 million.


By Darren Staples.
Full story at Yahoo News.