Eurozone debt worries are affecting confidence in the London property market
London’s property market, which has seen significant growth right the way through the global economic crisis, is set to be affected by fallout from the eurozone debt situation.
According to Lloyds Banking Group, the capital, which has been seen as a safe haven for overseas property investors and has to all intents been operating as a separate market from the rest of the UK, is suffering from a lack of confidence arising from the problems in Europe.
“It’s clear that concerns regarding the Euro Zone are impacting upon confidence, especially at the higher end of the market,” said Lloyds’s managing director of corporate real estate, Lynda Shillaw.
“There appears to be a recognition that the challenging world economy is going to be here for far longer than anyone anticipated,” she added.