Sales of London Luxury Homes Plunge

Due to the introduction of a new tax and fears over the divorce from the EU, according to the Evening Standard. The paper’s Jonathan Prynn and Joanna Bourke have the story: “Just nine newly built homes worth more than £5 million changed hands in the six months to October, down 83 percent from the 52 that were sold in the same period last year, according to an exclusive analysis of the latest Land Registry data. The figures have triggered near panic among developers and agents specialising in the so-called ‘super prime’ market with one claiming that the government had scored ‘a spectacular own goal’ by raising stamp duty rates to 12 percent for homes worth more than £1.5 million.”