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The Masked Tulip

Price Of London's Luxury Homes Falls Again

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http://www.thisislondon.co.uk/standard-business/article-23893656-price-of-londons-luxury-homes-falls-again.do

Upmarket London house prices have fallen for the fourth month in a row and “the trend has some way to go”, according to property consultant Knight Frank.

The 0.2% decline in prime areas including Belgravia, Chelsea, and Knightsbridge means prices are 1% below June.

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I would have thought that the number of properties in this category that are sold each month is so small that it puts a 0.2% change well into the random noise and an indication of absolutely nothing trendwise.

tim

Add to this that it has been created by an estate agent and it becomes completely useless.

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I would have thought that the number of properties in this category that are sold each month is so small that it puts a 0.2% change well into the random noise and an indication of absolutely nothing trendwise.

tim

+1.5

These tiny fractional moves are irrelevant. In the London market the margin for error is at least 3% either way.

TBH I am not going to get excited about the crash until we saw more of the Halifax style -3.6% MOM drops for the country as a whole.

They won't happen all the time the plates are spinning okay and the £5TR elephant is ignored by our creditors.

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+1.5

These tiny fractional moves are irrelevant. In the London market the margin for error is at least 3% either way.

TBH I am not going to get excited about the crash until we saw more of the Halifax style -3.6% MOM drops for the country as a whole.

They won't happen all the time the plates are spinning okay and the £5TR elephant is ignored by our creditors.

Agree.

Whilst any negative stats are welcome from a sentiment point of view, we need to see larger, sustained falls for any meaningful crash.

More transactions from forced sellers is the only way we'll see that.

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One thing that makes this slightly more interesting is that this is the time of year when there ought to be a couple of thousand city boys looking for ways to spend their bonuses.

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whilst I don't think it's wrong, that is a woeful piece of journalism. It has no data in it at all, as to what are luxury houses or by what measure prices have fallen or anything. It's filler, that's all.

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One thing that makes this slightly more interesting is that this is the time of year when there ought to be a couple of thousand city boys looking for ways to spend their bonuses.

Now what would be a wise way of spending a bonus? ;)

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Now what would be a wise way of spending a bonus? ;)

Possibly not a wise investment, but if you're earning 2m a year, the possibility of losing 20% on the value of a nice house isn't going to keep you awake at night.

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Possibly not a wise investment, but if you're earning 2m a year, the possibility of losing 20% on the value of a nice house isn't going to keep you awake at night.

That is of course how homes should bought as a place to live in not an investment.....I hope they do not have too much trouble selling the existing home they live in to buy. ;)

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  • 259 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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