London’s luxury housing recovery set to stall for another year

Source: The Business Times — 

LONDON’S long-promised luxury housing market rebound is stuck in wait-and-see mode.

Real estate broker Savills slashed its 2022 forecast for price increases to 4 per cent from 8 per cent, revising a prediction it made as recently as November for prime central London properties. Bigger gains are now forecast for 2023 instead, though the bounce back in prices to the previous record will now be delayed beyond 2026, a report by the broker showed.