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Sancho Panza

LCP Acadata:London -1.4% MoM, England & Wales -0.9% MoM

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LCP hot on the heels of LSL Acadata yesterday.These two-from what I can see-are the best barometer for the housing market.The main difference being that LCP includes new builds.

Otherwise all sales are covered including cash.

Worth noting that the internal market dynamics in London are showing greater falls -2.6% QoQ in the mainstream market and +1.4% in the premium sector.

Sadly,unlike LSL you don't get a regional/Borough break down.

LCP Acadata 21/5/18

Highlights

England & Wales

Prices MoM -0.9% lowest since May 2017

Transactions down  21.5% QoQ-'lack of confidence and a disconnect between buyer and seller expectations'

 

Greater London

MoM fall -1.4%

Transactions down 12.3% QoQ, lowest since 2011

Annual sales to March,eighth consecutive fall to 91,725, 45% below 2007.

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I've lurked for a while and have decided to become active as I believe "something is happening", particularly in London, as Sancho's post above shows. One area I'm very familiar with is West London where there has been a forest of new flats, many still under construction.

I ask myself who on earth will buy them. The developers must be asking themselves the same question. This is from a local newsletter. It contains a table showing how little is shifting in London W3.

http://www.actonw3.com/default.asp?section=property&page=stats1805.htm

"Fears are growing of a property glut in Acton after the latest figures from the Land Registry appear to show that sales of new build flats have ground to a halt.

None of the hundreds of flats that have been completed recently are reported as being sold on the Land Registry site and only six have appeared since the end of last September." (my emphasis).

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"omg they're not building enough houses isn't it terrible that my house value is a million quid"

"Oh no there's a property glut something must be done my house may not be worth a million quid anymore"

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  • 301 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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