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Analysis

London Asking Prices Fall By 2% In One Month

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Home.co.uk looks at average price of properties on the market and surveys more properties than Rightmove.

Personally, I think panic is starting to set in now amongst sellers who realise that they have left it too late and have dashed in en masse in Spring - just as expected. People always move in crowds. Number of mortgages stays the same at 1/3 - 1/2 of peak, unemployment highest for 15 years and now the big austerity plan and Southern Europe. etc etc.

Prices going up last year was a surprise to most, but nobody would be surprised if they fell a long way from here in the current climate - which is not set to get better for some tine.

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The situation seems fluid at the moment. One month everything looks set for recovery, the next we're starting down the barrel of the second dip.

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Quite a bit of London prime has been selling to Eurozone buyers looking to hedge against problems with the currency. If, as widely expected, the new government start to hammer the UK to get the borrowing under control the economy could well double dip. I'm sure the London property market is becoming less attractive. There is still huge amounts of money sloshing around looking for somewhere to hide. I think you need to look at the property segment you are targeting to get an accurate picture, London is an odd place with its multimillion pound properties for the international wealthy.

A few bank and civil service relocations could decimate the market for the more mid range properties.

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Weird market London, even with all the bank loses,followed by job loses and the discounts on failed completions that are happening in Docklands , looking on right move over the weekend the market for second hand property in Docklands does not seem to have fallen a lot if any.

I find it hard to understand why as there must be a massive oversupply.

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Must there?

It'd be fascinating to know what the real situation is regarding occupancy of all those new-build flats. Who the £uck is living in them, and where were they living in before?

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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