London house prices to stall, say experts | Business

Prices have almost doubled in London since 2009 but in the year to June the growth rate was the second slowest in the UK

After years of double-digit growth, house prices in London will stall for the next few years, according to a panel of economists, but a crash looks unlikely.

In a survey of 14 economists by Bloomberg News ten cited political and economic uncertainty as a reason that house-price growth was stalling in London and seven saidthat tax changes for landlords was the biggest cause behind stagnating prices.

Landlords have faced a 3 per cent stamp duty surcharge on buying additional homes since April 2016, and the start this April of a four-year process by the government to remove the tax relief they can claim on mortgage interest payments.

Kallum Pickering, an economist at Berenberg, said: “The latest data indicate the London housing market could be correcting…

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