Wednesday, Nov 26, 2008
Globrix asking prices survey
Daily Mail: House prices down £17,000 in the last two weeks alone
Asking prices for homes are being slashed by up to £100,000 to secure sales in the run-up to Christmas, according to property search engine Globrix. In the last two weeks, prices have been cut dramatically as sellers have finally faced up to the "new reality" of the depressed London market after months of denial.
In Camden the average reduction is £55,728 while in Chelsea the average price has dropped £100,797
Posted by little professor @ 10:04 PM (633 views) Add Comment
4 Comments
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1. phdinbubbles said...
The sentiment of the majority of those that comment at the bottom of these red-top stories now is very much in favour of prices crashing. Hopefully editors will realise they can't ramp any more and print sob-stories about feckless idiots who've been turfed out of their dream homes after taking on too much debt to fund their stupid lifestyles (I'm still pissed off about that couple from the Mail story you posted this morning!).
2. paul said...
Glowbricks twits again.
3. Salts said...
@phd. As the Kaisers once said, 'We are the angry mob. We like who we like, we hate who we hate.'
4. planning4acrash said...
You;ll only be able to buy with cash deposits within a few months. ALL lending gone, Houses everywhere selling for between 10 and 20k. Unfortunately, the bailouts ensure that the deflation does not strengthen the purchasing power of the currency. If government didn't intervene, build costs would fall at the same or at a faster rate than houseprices fell, as deflation strengthened the currency, by reducing the quantity of money in the system. Instead, we see prices for assets fall, whilst the labour and materials to make them rises, meaning total destruction of the construction industry. Expect socialist solutions, and something worse than the 1960's palaver. Gulag communities on the way.