Jump to content
House Price Crash Forum
Sign in to follow this  
eric pebble

Telegraph: High-End London House Prices Being Slashed: Properties In Prime Central London Down 20Pc In Value

Recommended Posts

Telegraph: High-end London house prices being slashed:

Properties in prime central London down 20pc in value.

Luxury homes in prime central London, worth between £1m and £2m have seen a drop in price of 20pc over the last year, as with buyers deterred by the talk of Mansion Tax and the impending general election.

New data from high end estate agent, Strutt & Parker, has shown that those properties in the £2m to £5m bracket, therefore over the £2m Mansion Tax threshold, fell by 27pc for the third quarter of this year compared to July to September in 2013, as the market dramatically corrects.

Exclusive homes worth more than £5m in prime central London - defined as Knightsbridge, Belgravia, Chelsea, South Kensington, Fulham, West Chelsea, Kensington and Notting Hill - performed slightly better with a decline of 15.2pc. This shows that super high networth individuals are less concerned about talk from Labour and the Liberal Democrats of a new tax on wealthy householders.

A similar pattern emerged in terms of volume sales, which were down 26.8pc overall, with all price bands seeing a reduction in the number of transactions.

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11177312/High-end-London-house-prices-being-slashed.html

Share this post


Link to post
Share on other sites

So its because of the Mansion Tax, nothing to do with them being vastly overpriced and the fact they're asking far too much for them.

I bet they still sell for last years ridiculous prices.

Good to see volumes falling by that amount though, be good to see some estate agents go out of business.

Share this post


Link to post
Share on other sites

If you buy it to live in over longer-term what does it matter, markets even out over many years, the value is the home it provides and the location.....if you buy it like you would a stock or share, not so savvy...stuck holding an illiquid falling asset with added costs attached to it. ;)

Share this post


Link to post
Share on other sites

I wonder if this will be in the hard edition tomorrow

Make a few boomers cough over their filter coffee

Share this post


Link to post
Share on other sites

This election is the catalyst we have been waiting for. A Tory-ukip coalition will scare off foreign investors. Mansion tax Labour will also scare them off. The crash is coming, and you can smell the fear already. Those of us who have been destroyed by the system, will have no sympathy.

Share this post


Link to post
Share on other sites

FreeTrader has pointed out on the "Is Prime London Crashing" thread that this Telegraph story is total ******** based on the journo misunderstanding the figures in the original report. The falls she seems to be referring to are falls in the total value of properties sold in these price bands rather than their prices.

Edited by oldsport

Share this post


Link to post
Share on other sites

Page 56 - underneath the adverts for giant fluffy slippers.

Just to the left of the elasticated action slacks and money belt.

A pox on them.

I'll be wearing a sex pistols onsie when i'm their age.

Share this post


Link to post
Share on other sites

I wonder if this will be in the hard edition tomorrow

Make a few boomers cough over their filter coffee

Ah but shouldn't we conclude (in line with your comment on the Foxtons share price) that this sort of thing reaching the public consciousness actually means that the correction is over?

Share this post


Link to post
Share on other sites

Not the same. Something external would have to happen to see end of correction eg SuperHTB.

Shares will jump bcos the shorts are all in. Easy to shaft them.

Share this post


Link to post
Share on other sites

Telegraph: High-end London house prices being slashed:

Properties in prime central London down 20pc in value.

Luxury homes in prime central London, worth between £1m and £2m have seen a drop in price of 20pc over the last year, as with buyers deterred by the talk of Mansion Tax and the impending general election.

New data from high end estate agent, Strutt & Parker, has shown that those properties in the £2m to £5m bracket, therefore over the £2m Mansion Tax threshold, fell by 27pc for the third quarter of this year compared to July to September in 2013, as the market dramatically corrects.

Exclusive homes worth more than £5m in prime central London - defined as Knightsbridge, Belgravia, Chelsea, South Kensington, Fulham, West Chelsea, Kensington and Notting Hill - performed slightly better with a decline of 15.2pc. This shows that super high networth individuals are less concerned about talk from Labour and the Liberal Democrats of a new tax on wealthy householders.

A similar pattern emerged in terms of volume sales, which were down 26.8pc overall, with all price bands seeing a reduction in the number of transactions.

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11177312/High-end-London-house-prices-being-slashed.html

The main headline reads:

"

High-end London sales drop 20pc"

Which is different from "prices drop 20pc".

Which is it ?

Share this post


Link to post
Share on other sites

Telegraph: High-end London house prices being slashed:

Properties in prime central London down 20pc in value.

Luxury homes in prime central London, worth between £1m and £2m have seen a drop in price of 20pc over the last year, as with buyers deterred by the talk of Mansion Tax and the impending general election.

New data from high end estate agent, Strutt & Parker, has shown that those properties in the £2m to £5m bracket, therefore over the £2m Mansion Tax threshold, fell by 27pc for the third quarter of this year compared to July to September in 2013, as the market dramatically corrects.

Exclusive homes worth more than £5m in prime central London - defined as Knightsbridge, Belgravia, Chelsea, South Kensington, Fulham, West Chelsea, Kensington and Notting Hill - performed slightly better with a decline of 15.2pc. This shows that super high networth individuals are less concerned about talk from Labour and the Liberal Democrats of a new tax on wealthy householders.

A similar pattern emerged in terms of volume sales, which were down 26.8pc overall, with all price bands seeing a reduction in the number of transactions.

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11177312/High-end-London-house-prices-being-slashed.html

Seriously...have they re-written that article ?

I dont see the text " seen a drop in price of 20pc over the last year, " anywhere.

Share this post


Link to post
Share on other sites

So its because of the Mansion Tax, nothing to do with them being vastly overpriced and the fact they're asking far too much for them.

I bet they still sell for last years ridiculous prices.

Good to see volumes falling by that amount though, be good to see some estate agents go out of business.

This.

Pre-election Toryraph anti-mansion tax propaganda.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 407 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.