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gruffydd

London house prices posted their largest annual drop in 6 years

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https://www.bloomberg.com/news/articles/2017-02-20/london-house-prices-post-biggest-annual-decline-in-six-years

London house prices posted their largest annual drop in almost six years in February as high values deterred buyers.

The average asking price in the capital fell 0.4 percent to 641,116 pounds ($797,000) this month from a year earlier, the first annual decline since April 2011, property website Rightmove Plc said on Monday.

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1 hour ago, gruffydd said:

https://www.bloomberg.com/news/articles/2017-02-20/london-house-prices-post-biggest-annual-decline-in-six-years

London house prices posted their largest annual drop in almost six years in February as high values deterred buyers.

The average asking price in the capital fell 0.4 percent to 641,116 pounds ($797,000) this month from a year earlier, the first annual decline since April 2011, property website Rightmove Plc said on Monday.

Given many outer suburbs are moving up in price it does beg the question of how bad things are in prime london?

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1 hour ago, Sancho Panza said:

Given many outer suburbs are moving up in price it does beg the question of how bad things are in prime london?

It begs the question...how long before the end of mugs with free £££s moving out of PCL into the suburbs will means price falls there...extrapolate this to the shires...  When London collapses the s.e. collapses

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9 minutes ago, gruffydd said:

Economists predict a burst in the property market bubble - here is how much money it could cost homeowners http://www.birminghammail.co.uk/news/property/how-much-you-could-lose-12473416

There's always some trendy ba**** that turns up late to the party and wants to be the centre of attention.

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3 hours ago, gruffydd said:

https://www.bloomberg.com/news/articles/2017-02-20/london-house-prices-post-biggest-annual-decline-in-six-years

London house prices posted their largest annual drop in almost six years in February as high values deterred buyers.

The average asking price in the capital fell 0.4 percent to 641,116 pounds ($797,000) this month from a year earlier, the first annual decline since April 2011, property website Rightmove Plc said on Monday.

Silly argument. Calling 0.4% a 'huge drop' in asking price versus a statistical anomaly?

I suppose when it's foreign money looking to bank their cash in London property its a bit of a problem.

Our currency has tanked nearly 20% post Brexit as well WRT all the others that matter.

In other currencies UK property has been absolutely hammered, especially London, (USD, EUR, CNY, RUB) which will post much more ugly figures to the foreign land banker community invested in the UK.

Good thing the Chinese et al will be buying the dips. UK.gov won't be putting any capital controls or restrictions on them any time soon.

 

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