Flash Briefing: Naspers spends big in Russia; Brexit hits London houses hard; Stanford world’s top MBA

By Alec Hogg

• Turnover in the London housing market has fallen to its lowest level since the Global Financial Crisis ten years ago. Lonres, a data network connecting 6,000 London property professionals, says there has been a drop of one fifth in stock coming onto the market in prime districts. Owners who actually selling have had to accept an average of 11% less for their homes. Real estate agency Savills forecasts London will be hardest hit by Brexit, forecasting total net growth in house prices over the next five years at a miserable 7%.

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