Saturday, Sep 29, 2007
Lagging data not withstanding, anyone else expect this?
Firstrung: London house prices increase by 1.5% in August - Land Registry
For the fifth month in a row, the rate of increase for London house prices remains over six per cent per annum greater than that of England and Wales as a whole. The August data shows the current rate of increase for London house prices has increased to over seven per cent per annum greater than that of England and Wales. With an annual price change of 16.7 per cent, London therefore leads the rest of the country in terms of house price growth by a significant margin. London's average house price for August 2007 stands at £349,838 whereas the average price for England and Wales is £182,914.
Posted by converted lurker @ 08:03 PM (850 views) Add Comment
9 Comments
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1. New_order said...
It makes more sense if you see greater London as a separate state within a state. Higher salaries but with higher living costs, its own police force, it has a larger population than Sweden and Norway combined, English is the language used when communicating across ethnic groups (like air traffic control).
Take London out of the equation and things are a lot different; house prices dropping, industry drying up, etc ...
2. nacho99 said...
what does that photo got to do with the story?
3. nacho99 said...
in case you need a better look!!
http://firstrung.co.uk/dbimgs/climb%20no%20rope(1).jpg
4. converted lurker said...
er...what would you prefer, an image of tower bridge 'going up'? Young active person struggling to climb face of mountain works for me =:¬)
5. su said...
CL. The scanty attire of course has nothing to do with it? :-)
How about a hunky guy next time.
6. confused76 said...
CL
I repeat the comment I posted yesterday.
Look at the breakdown of London:
- Chelsea: no price change and huge drop in volumes
- Tower Hamlets: no price change
- 3 boroughs show a decline
- Increases are in bouroughs now being improved with significant investments, like Lambeth and the People Republic of Camden
Huge drop in sale volumes, in particular above £2m
In short, prices are not going anywhere
7. converted lurker said...
su! noted, confused, I know, I know, however, simplistically I thought by now we'd see reversions in London
8. New_order said...
Camden should not be invested in. The dodgy drug-taking merchant-smuggling rock scene gives it its atmosphere. If they transform it into another one of those trendy cafe cheesy places, London will have no soul left.
9. Cristiano Barbaro said...
I think that the figures are being fudged, just like inflation.