‘New research from Cluttons has found that fewer prime central London properties are being bought outright with cash as cuts in bankers’ bonuses have begun to impact on the market.
Cluttons said that cash buyers accounted for 49% of all purchases last year, compared with 74% in 2011. Although it had little effect on prices in prime London, which rose 6.4% according to Nationwide.
Cluttons said the average price of a prime residential property was £1.5m last year.’
Source: The Daily Telegraph