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London has a glut of posh homes for sale

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https://ftalphaville.ft.com/2018/02/08/1518103389000/London-has-a-glut-of-posh-homes-for-sale/ 

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Here's a stat that might concern any Londoner thinking about putting their flat on the market when the weather warms up: there are already more homes advertised for sale on Rightmove than were sold in the whole of 2017.

2018 looks like it could be an entertaining year for London property market watchers.

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This is not news the London top end market has been shot for over 12 months.

The restrictions on Russia and the economic slow-down in China have reduced demand

This however affects a tiny number of people.  

Certainly flats in ares such as Battersea, Wandsworth and Hammersmith have reduced in value as there has been a proliferation of new build since 2012 .

I agree in that i would not want to be trying to sell a flat in some parts of London but London is a big place and some areas have been overdeveloped others such as  Richmond Kew and others much less so and demand is still there. 

The interest in freehold houses is still high as most of London is apartments and many buyers still want a house rather than a flat. 

Equally Bloomberg have recently issued a report saying interest at the very top end is increasing. 

https://www.bloomberg.com/news/articles/2017-12-18/prime-london-property-market-shows-signs-of-life-amid-price-drop

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58 minutes ago, happyguy said:

This is not news the London top end market has been shot for over 12 months.

The restrictions on Russia and the economic slow-down in China have reduced demand

This however affects a tiny number of people.  

Certainly flats in ares such as Battersea, Wandsworth and Hammersmith have reduced in value as there has been a proliferation of new build since 2012 .

I agree in that i would not want to be trying to sell a flat in some parts of London but London is a big place and some areas have been overdeveloped others such as  Richmond Kew and others much less so and demand is still there. 

The interest in freehold houses is still high as most of London is apartments and many buyers still want a house rather than a flat. 

Equally Bloomberg have recently issued a report saying interest at the very top end is increasing. 

https://www.bloomberg.com/news/articles/2017-12-18/prime-london-property-market-shows-signs-of-life-amid-price-drop

Seems like mere spin to me. 

 

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1 hour ago, happyguy said:

This is not news the London top end market has been shot for over 12 months.

The restrictions on Russia and the economic slow-down in China have reduced demand

This however affects a tiny number of people.  

If the problem is contained to a few billionaires and newbuild flats in Battersea why are there more properties for sale in the whole of London right now than were bought in the whole of London last year? London has a population over 8 million and more than 3 million properties - zone 1 is absolutely tiny compared to a market that size.

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  • 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%



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