A breakup of the eurozone or a major recapitalisation of the European banking system could threaten prime central London property’s status as a safe haven investment, according to a new report.

Taking a contrarian view to the idea that top, centrally located London residential property is a bullet-proof investment, a study by Fathom Consulting commissioned by Development Securities, said that London property values would, in fact stumble if the eurozone broke up or experienced a large-scale recapitalisation.