Fears are beginning to grow over the state of the London’s prime property market, as luxury homes continue to sell at cut-prices.
Sharing her insights as a top buying agent for prime central London, Black Brick’s Founder, Camilla Dell spoke with Hugo Cox of The Financial Times:
Reflecting on a recent property purchase of a six-bedroom converted Mayfair pub, Camilla said: “When the bank made a further margin call to reflect the lower value in the falling market, the owner ran out of cash and defaulted, leaving the bank racing to sell the house.”
Read the full article here.