LONDON,(UPI) — There are fears London's high-end real estate market will see prices plummet as a result of the U.S. sub-prime mortgage meltdown, the Financial Times said.
Tracy Kellett, founder of BDI Home Finders in London told the newspaper some sellers were already lowering prices, while John Young of the Humberts real estate agency said uneasiness had resulted in several deals falling through. During the past two years, prices in London's high-end property market have risen by about 50 percent based largely on a financial services boom, the newspaper said.
