It is the 19th of September 2019

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London Property Bubble Bursting? UK In Unchartered Territory On Brexit and Election Mess

- London property bubble bursting? UK in unchartered territory on Brexit and election mess
- Evidence of downturn in London housing market

- Over 75% of London homes now selling below asking price
- Prime north London property down 6 per cent annually
- House prices have not fallen for three consecutive months since the 2009 crisis
- Bank of England report expresses worry over UK property market
- ‘Adverse shock’ to UK economy may amplify negative feedback loop

- Increased political and economic uncertainty has weakened fragile London buyer sentiment
- Bank of England Financial Stability Report: "Mortgages are the largest loan exposure for UK lenders"
- BOE FSR refers to a "self-reinforcing feedback loop" that, if triggered, would cause another 2008-style crisis in the UK

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