James Robinson, General Manager of mews property agency, Lurot Brand, speaks to Canal+ TV France about the effect the EU Referendum result has had on the sale of property in London, in particular, London mews properties. James highlights the fact that political uncertainty undoubtedly weighs heavily on the market.
One mews property, on a small street in the French Quarter of London, has been on the market for 3 months. Despite its old world charm, its prime location and comfortable size it remains on Lurot Brand's books. Another mews property was for sale at 4.5M euros a few months ago but since the vote to leave the EU was announced, its price has dropped by 7%.
Is it time for vendors to be more realistic about pricing? Lurot Brand certainly think so, as James gives another example of a beautifully refurbished mews house on the market (pre Brexit) at 4.6m Euros and now the price has been reset at 4.3m Euros.
There is no doubt that London has enjoyed a boom time in terms of attracting investors from all over the world, causing property prices to sky rocket. Brexit has brought us all back down to earth with a bump. While it is a worrying time for property agents, James remains sanguine and believes that, Lurot Brand, as mews property experts with over 40 years experience in the sale and letting of mews homes, can ride this particular wave.
La perspective du Brexit fait chuter la valeur de l'immobilier londonien. Le climat d'incertitude politique pèse sur le marché : une baisse de 10% du prix moyen des logements a été enregistrée la semaine après le vote du Brexit.