Friday, Sep 26, 2008
Really!!
The Times: Falling rents hit London homes
Rents have suddenly started to slide alongside house prices as pessimism sets in throughout the City, say Savills
Posted by magnaman @ 01:49 PM (342 views) Add Comment
2 Comments
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1. doomwatch said...
In Clapham/Balham/Wandsworth I've lost count of the forest to For Sale/To Let
signs gone up in the last 2 months.
Asking prices of £890K are having offers ACCEPTED for £680K as sellers start to get real/desperate. Fact.
2. drewster said...
I like this bit:
"But the new depression in rents is being felt most acutely in the over-developed east of the City, where there is little traditional family demand. The sudden mismatch between lavish flats and cashed up City boys to rent them has caused a 4.6 per cent decline [in rents] in the past quarter."
A few days ago somebody on here pointed out that if this continues, we can use all those flats around Canary Wharf and City Airport as the new Olympic village!