Australasia

London loses resi investors

London has slipped to 23rd place in Knight Frank’s rankings of the top 35 prime destinations for residential investment.

Vancouver led the index for the fourth consecutive year, with prices rising by 26%, compared with 0.8% in London, and 3.6% on average in the year to March 2016.

Knight Frank said the London growth was the lowest recorded annually since 2009, when values declined by 3.2% in the wake of the financial crisis. It said the more muted performance now was due to tax changes and a preceding period of exceptional growth.

Strong price growth in Sydney and Melbourne means Australasia is the strongest-performing world region.

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