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London N1, N5, Ec1

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Every morning I receive an e-mail from Primelocation showing new properties on the market.

In the last 10 days there have been 11 properties coming onto the market in my price/location bracket (more if I include those under multiple agents). Properties seem to be coming onto the market faster than they did over the summer, but perhaps that is normal in the autumn.

What is really interesting is that out of the 11 properties, 4 are price reductions of properties already on the market. At least one of those is reducing for the second time. Price reductions are definitely coming through much faster than I have ever seen them before. Perhaps Sellers are trying "one last push" before the selling window disappears until the spring?

Price reductions seem to be in the region of 5-10%.

N1, N5, EC1 are probably prime areas to benefit from the expected pick-up in City bonuses in the Spring.... so the reductions must be coming from Sellers that are really fed up with the amount of time on the market and just can't wait until then.

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  • 301 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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