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Prime London Property Prices To Fall 9% This Year, Says Savills

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Right. A stress test for -40% has been agreed for good reason and signed off by dozens of banking boffins using hundreds of models and spreadsheets. It's not an arbitrary figure completely beyond the scope of real possibility.

My landlord put my flat (in mega desirable SW London area) on the market just two weeks ago and has already dropped asking price -6% after only three pitiful viewings limped through the door. At this rate, a -40% drop is possible in the fullness of time, which would bring the price slightly under what he paid for it 10 yrs ago.

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Right. A stress test for -40% has been agreed for good reason and signed off by dozens of banking boffins using hundreds of models and spreadsheets. It's not an arbitrary figure completely beyond the scope of real possibility.

My landlord put my flat (in mega desirable SW London area) on the market just two weeks ago and has already dropped asking price -6% after only three pitiful viewings limped through the door. At this rate, a -40% drop is possible in the fullness of time, which would bring the price slightly under what he paid for it 10 yrs ago.

A 40% drop in some areas will only get them back to the level where they need to drop 40%

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A 40% drop in some areas will only get them back to the level where they need to drop 40%

Cameron and Osborne have a lot to answer for with their market manipulation to win an election. Thank God the Brexit referendum result finally got rid of them. Why is Carney still here?

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I'd imagine the EAs like to err on the side of tramping, so real falls going to turn out much bigger.

Bank's stress tested for 40%+

You know its coming.

Interestingly, from my old neck of the woods, prices went UP 80-100% 2010 - 2016. That's after the agreed 40% on stress tests. So shouldn't they now be stress testing something like 60-70% falls for their London properties?

IMO, 40% is next to nothing in London, doesn't even take most places back to 2012.

Edited by MinceBalls

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Cameron and Osborne have a lot to answer for with their market manipulation to win an election. Thank God the Brexit referendum result finally got rid of them. Why is Carney still here?

Cause he's in charge ?

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