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Is London losing its allure?
The story suggests a cooling in the very top tier of London's property market, with prices 14% below their 2014 peak. This could indicate a shift in how attractive London is perceived by ultra-wealthy international buyers, who often drive demand in these exclusive areas. Other global cities might be gaining favour.
Stories that explain this
Eight in 10 Mayfair and Belgravia Homes Sell Below Asking PriceRelated explainers
Who buys London's prime homes? What was the 2014 peak? What caused the 2014 peak? Could I buy a Mayfair home? How important is property to the UK? Why are luxury homes cheaper? Are there fewer overseas buyers now? How do they buy property?The full catalogue
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