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Luxury home sales worst in seven years in London


Luxury-home sales in Central London's best districts dropped to their lowest level in seven years in January as buyers awaited the effect of pending stamp-duty tax changes and sellers only slowly cut their prices. A total of 167 existing homes were sold in neighbourhoods including Kensington, Chelsea, Mayfair and Westminster last month, 30 per cent below the average volume for the time of year since 2010 and the weakest month since January 2009, according to data compiled by London-based broker Huntly Hooper. Selling prices in Central London's best districts in January were 1.8 ...

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First Published: Sat, February 13 2016. 21:04 IST