Almost a third of London homeowners drop asking price

Jessica Nangle

August 23, 2019

Almost a third (29%) of homeowners in London have dropped their asking price ahead of Brexit according to new data by estate agent Nested.

This data reveals that there are £2bn worth of potential savings for prospective homeowners.

Westminster, Kensington & Chelsea and Camden have seen the biggest price reductions, whilst 11% of properties currently for sale in London have had a price drop of more than £37,800.

Throughout the capital, 18% of properties for sale have seen a price drop of more than 10%.

Jamie Salisbury, property expert at Nested, said: “Amid this endless uncertainty and gloom there are great opportunities out there for buyers if they’re bold enough to seize them.

“This is particularly true for homeowners who are trading up, presenting an opportunity to buy a new home that might otherwise have been out of reach.

“With money still relatively cheap to borrow and prices falling, buyers can realistically snap up properties they couldn’t have afforded in a stronger market.

“Nested is unique in the industry in that we will advance you the money to secure the property you want – making you chain-free – so you don’t miss out on the home of your dreams.”

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