If the Duke of Westminster, Britain's richest man, thinks it is time to prepare for the worst, the indications may be that the waters are about to get a little choppy.
Enjoy the sunshine while you can. Clouds are on the horizon and if the past 8 years are anything to go by it won't be very much fun!
During the course of last year, London’s most expensive homes experienced a significant slowdown after an overhaul of stamp duty at the end of 2014. Meanwhile, investment in commercial property in the UK slumped by £8 billion in the first three months of 2016 as uncertainty over the EU referendum in June, stock market volatility and worries about the global economy deterred investors. Nicholas Scarles, financial officer at Grosvenor Group, said all the signs in the property market were pointing to a correction in the near future. “The balance of probability has increased quite dramatically that there is going to be a correction of some kind,” he said.