Monday, Nov 19, 2007
London price madness grinds to a halt
London Evening Standard: Housing market logjam could see prices fall
"The London property market is stuck in a logjam that could lead to a sharp fall in prices, estate agents warned today.
Ed Mead, sales director at Douglas & Gordon, said prices in central London were already down about five per cent."
Chris Brown, president-elect of the National Association of Estate Agents cites lots of muffled excuses, apart from the
main reason; PROPERTY IS OVER-PRICED
Poxtons minis seen at car auctions.
Posted by doomwatch @ 07:45 PM (273 views) Add Comment
2 Comments
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1. Addsj said...
There are places in the UK (Surrey, Winchester) where ex council houses are on the market for a quarter of a million upwards.
Is property over priced?
On this site people quote stats and data arguing both sides of this argument. I work in stats and stats can tell you anything. Often data only quantifies what common sense is telling you. You only have to repeat the sentence "a quarter of a million pounds for an ex council house" and common sense should tell you that the UK housing market is massively over inflated
2. dohousescrashinthewoods said...
One was on for 250K across the road from us in Guildford. And that's in the chav-zone where five-year-old girls yell obscenities at their parents like fish-wives.