Brexit to puncture London house price boom in 2017

House 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 EU, according to estate agent Countrywide.

Price growth for homes in the capital will slow to 3.5% this year and drop by 1.2% in 2017, the UK’s largest real estate broker said in a report yesterday.

In December, Countrywide forecast that values would rise 4% this year and next.