The Wall Street Journal

Remote Work Is Tanking Home Prices in the Heart of London

The British capital city’s historic financial district is showing no sign of rebounding any time soon

A view of the City, where historic buildings stand side by side with modern skyscrapers JOANNA YEE FOR WSJ

When he was running his own hedge fund, Peter Brewer’s working life was grueling.

He was usually at his desk by 6 a.m., and worked up to 100 hours a week. Commuting long hours, from his home some 30 miles south of central London to the British capital’s historic financial district, felt like an unnecessary extra burden. So in 2014, Brewer, who was recently divorced and with a new partner, decided to buy a six-bedroom split-level penthouse apartment a six-minute walk from work.

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