Prices of new homes slashed
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13 April 2012
The prices of new homes in London are being reduced by up to 10 per cent because of the slowdown in the housing market, according to a new report.
London Residential Research, which carried out the study, says the crisis is largely due to buyers' jitters, especially in the buy-to-let market.
FPDSavills expects new-build prices to drop by a further 10 per cent in the next six months, with no recovery in 2004.