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The Masked Tulip

Is London’S Property Bubble Starting To Burst?

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It is a Moneyweek article that you could, IMPO, put together from reading a few threads and views here on HPC.

But nice for anyone who doesn't come here - shame that Moneyweek can't stick it as a headline on their rag.

According to monthly survey data from the Royal Institution of Chartered Surveyors (Rics), the number of enquiries from members of the public continues to decline, and is nearly back to the levels of last summer. At the same time, the number of sellers putting their homes on the market has risen.

Indeed, if you look at the regional breakdown of data, this trend has been particularly strong in London, with nearly 50% of respondents saying that there has been an increase in the number of homes coming on to the market. Confidence in the market is also falling, with 57% saying that it is a good time to sell.

Comments from individual surveyors also reflect that things are changing. For instance one London surveyor says that “properties are still selling, but not at crazy prices”. Another notes that, “demand in some areas has fallen back from its peaks”.

Several of them are even talking about price cuts, saying “we are now having to re-adjust asking prices to encourage offers”, “more properties are coming onto the market”, and “the housing market is cooling down”.

http://moneyweek.com/is-londons-property-bubble-starting-to-burst/

Edited by The Masked Tulip

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There is so much in the media in this vein recently - I do think the tide is finally beginning to turn.

This morning I have seen another hefty reduction in SW17 - 15.8% from initial AP in May.

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There is so much in the media in this vein recently - I do think the tide is finally beginning to turn.

This morning I have seen another hefty reduction in SW17 - 15.8% from initial AP in May.

I think the tide turned 2 months ago....the MSM will be reporting it for real in 2 months time.

One has to expect another tory prop though before the election or their MSM firends suddenly talking the market up again.

Edited by TheCountOfNowhere

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My concern is that if prices fall, they might coincide with the change to pensions around annuity.. There might be a wave of boomers looking to vest pensions into property.

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