Home sales in prime central London drop below financial crisis levels

Seems like the property bubble in London is about to bust. It couldn't go on forever with all the foreign investment.

Property transactions in prime central London locations have dropped below levels seen during the financial crisis to hit a new record low, new research shows. 

Brexit uncertainty and stamp duty increases are to blame, as declines have also been recorded more broadly across England and Wales, according to a new report by real estate investment advising firm London Central Portfolio.

It comes as the Treasury is facing a £1billion drop in stamp duty from property sales this year – sparking fears a tax crackdown on homeowners has backfired spectacularly.

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https://www.thisismoney.co.uk/money/mortgageshome/article-6303075/Home-sales-prime-central-London-drop-financial-crisis-levels.html