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Is There A House Price Index That Excludes London?

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I have been lurking on here for a few weeks, and I noticed that London house prices are a major issue. Foreign millionaires have been piling into London properties for some time, distorting the local and national indices :(. Is there a House Price Index that EXCLUDES London? That would give us a much better idea of how things are developing, IMHO.

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I have been lurking on here for a few weeks, and I noticed that London house prices are a major issue. Foreign millionaires have been piling into London properties for some time, distorting the local and national indices :(. Is there a House Price Index that EXCLUDES London? That would give us a much better idea of how things are developing, IMHO.

London prices are down more than 5% yoy according to Halifax.

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The crash can't come soon enough - I am sick of waiting.

As a fellow newbie I don't know if this has been discussed before on here but it seems to me possible that there won't be A Crash in London, but that rather the market will start to fracture into different parts, some of which will be crash-proof (ish) and others of which will crash hard.

I think the bottom end is already clearly going down in London but there are still enough mugs out there on decent money to let a few vendors get lucky.

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As a fellow newbie I don't know if this has been discussed before on here but it seems to me possible that there won't be A Crash in London, but that rather the market will start to fracture into different parts, some of which will be crash-proof (ish) and others of which will crash hard.

I think the bottom end is already clearly going down in London but there are still enough mugs out there on decent money to let a few vendors get lucky.

I have a view that London is a city state which happens to be located in England.

Fortunately (or unfortunately) depending upon your viewpoint it has the benefit of extremely liberal judges who intrepret the human rights act broadly; meaning that most despots from around the world seem to want a crash pad (a snip at £136 million) in London.

They know that if they can get to London they'll never get thrown out if they claim asylum and they've got loads of cash stored in the form of a tasty central London property (or a Premier League football club).

That will keep demand high in central London.

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I have a view that London is a city state which happens to be located in England.

Fortunately (or unfortunately) depending upon your viewpoint it has the benefit of extremely liberal judges who intrepret the human rights act broadly; meaning that most despots from around the world seem to want a crash pad (a snip at £136 million) in London.

They know that if they can get to London they'll never get thrown out if they claim asylum and they've got loads of cash stored in the form of a tasty central London property (or a Premier League football club).

That will keep demand high in central London.

Sure, the international super-rich will prop up the super-top end of the market, especially while the pound is weak and other investments look a bit dodgy, London property is a handy bolthole for them. And obviously this knocks-on a bit.

Then, as I said, the bottom (ex-council, unfashionable areas etc) looks like it's falling already to me.

It's the bits in between that are hard to read, I've just heard of an acquaintance who bought a one-bed flat in "Hammersmith" (looks like Shepherd's Bush to me) for £205,000 last spring and has just sold it for £225,000. It was a pokey little victorian conversion on the first floor. I don't get that and think she may have been lucky - or she may be lying of course, many do with property prices. I'm going to look it up on the LR in a month or so (it's only just gone through apparently).

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I have been lurking on here for a few weeks, and I noticed that London house prices are a major issue. Foreign millionaires have been piling into London properties for some time, distorting the local and national indices :(. Is there a House Price Index that EXCLUDES London? That would give us a much better idea of how things are developing, IMHO.

There are regional house price indices, so the one for your region would be more relevant to you. More relevant is not the same as more accurate.

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London prices are down more than 5% yoy according to Halifax.

Yes, I think sometimes there is a mental block amongst posters - London is 'Immune' and so on and so forth. Clearly London is not immune and if you look at the stats, London from peak is actually down quite a bit AND far more than the surrounding South East. It appears to be that the South East (excluding London) has been far more sticky throughout the last few years.

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I have a view that London is a city state which happens to be located in England.

Clever point. And London isn't alone. I'm seeing a similar trend in many countries, from Brazil (where loyalty to the city was always as strong or stronger than loyalty to the state) through to virtual city states like Singapore, Dubai, and Hong Kong.

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  • 311 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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