THE number of buyers searching for homes in London has slumped dramatically since the mini-Budget, raising alarm over a steep fall in prices over the winter.
New data from Zoopla shows how confidence has been shattered in the two weeks after Kwasi Kwarteng’s Commons statement on September 23 which sent mortgage rates soaring. One developer said the turmoil has literally killed the housing market stone dead”.
Demand from buyers defined by Zoopla as calls and emails to agents about properties across the capital has fallen 21 per cent. But the most startling declines were in the commuter belt where prices had been pushed up fastest by the race for space” during the pandemic.
Demand is 37 per cent lower in Watford postcodes, 32 per cent down in Kingston and Bromley, 30 per cent in Romford, 29 per cent in Enfield, and 27 per cent in Twickenham.
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