London housing boom to end next year

LONDON: Home values in London will fall for the first time since 2009 next year on economic uncertainty resulting from the UK’s vote to leave the European Union, according to Countrywide Plc.

Price growth for homes in the capital will slow to 3.5% this year and drop by 1.25% in 2017, the country’s largest real estate broker said in a report. Countrywide in December forecast that values would increase by 4% this year and next.