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Where Next For Britain's Property Prices?


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In reply to the question on what is next for Prime Central London, it very much depends on the City and the international consequences of the deleveraging.

Our indices we produce are indpendently compiled by the LSE and use actual pounds per square foot at the date of exchange and show far greater volatility than other indices. However, they do show central London has almost tripled in the last ten years and even allowing for beyond trend earnings growth due to the City bonuses, this again suggests prices may be above fundamental values. However, with the low levels of debt it would suggest there will be far greater "price stickiness" once prices reach the original purchase level.

It should be noted whilst participating as part of the panel we concentrated on the national market and acknowledged different areas and price levels have different influences. It is often said there is no national market merely a myriad of different micro markets.

James Wyatt FRICS

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