London property bubble 'about to burst' - Telegraph
PPR Estates said it had seen rising number of inquiries from property owners in London looking for a quick sale below the current market price. It said rising unemployment, an increase in the number of company liquidations and a collapse in buyer interest – particularly in areas hit by the recent riots – were to blame.
Nick Hopkinson, the director of PPR Estates, said that over the past few years there had been a rising number of "distressed" sellers in other parts of the country, but London had appeared to be immune as prices continued to rise.
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