‘Wobble’ for London economy as sterling falls

London’s economy is wobbling from the early effects of Brexit judging from the capital’s faltering housing market, fewer EU citizens seeking work and weaker job creation, according to a report from the Centre for London think- tank.

Despite the unemployment rate holding at its lowest in more than 25 years at 5.5%, job creation has slowed and the number of foreign workers seeking payroll tax registrations has dropped 15% compared with a year earlier.

“While no-one knows how Brexit will play out, this new analysis suggests that London’s economy is beginning to wobble,” think-tank director Ben Rogers said.