Luxury home prices in London will fall by 14 percent next year as bankers and hedge fund managers trade home shopping for job hunting. Job cuts and potential layoffs at financial institutions will likely sap demand so much this year and next that the total two-year decline in luxury values may be 30 percent, real estate adviser Savills Plc said in a report today. In April, Savills had forecast a 25 percent decline for the period.

Full story: bloomberg.com