London homeowners stay put as Brexit damps appetite to sell

London homeowners are showing a "marked reluctance" to put their property up for sale, deterred by uncertainty caused by the looming Brexit process and an increase in tax, according to Rightmove, a British property website.

While the average asking price of a property in the British capital rose 1.4 percent in January to 624,953 pounds ($759,000), fewer Londoners put their properties up sale. New listings slid 14 percent from a year earlier, the website operator said on Monday.

"Last year saw a rush of owners trying to exit at what they perceived as the top of the market, though in truth those in inner London were already a year too late," said Rightmove Director Miles Shipside. "Owners now seem well aware of the more challenging conditions, with the high stamp-duty costs and Brexit uncertainty perhaps making them hold back from trying to sell."