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Evening Standard - London Million Pound Houses Falling


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I suppose you could argue that if the most expensive homes aren't being sold, then the average value of all homes will be higher than the average price of homes being sold. However this seems like a huge discrepancy and hard to justify for very long.

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1 hour ago, Smith said:

"The average estimated property value of a home in London is now £654,730 — though this is almost £200,000 more than prices being achieved when properties are sold."

 

1 hour ago, thewig said:

Come again now?

The average asking price is £654k, the average selling price is £454k

It suggests that few expensive houses are actually selling.

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24 minutes ago, Locke said:

...few houses are selling around the average "valuation" (to my mind "asking") price?

“Average valuation” is vague scumbag ea speak 

it can mean anything they want it to mean, the only real “value” is the market value set by actual TRANSACTIONS!

 

file this one in the bin marked “equity is a matter of opinion, DEBT is real”

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5 hours ago, thewig said:

Come again now?

I think it means houses are worth 200k on balance sheets/fairy land than they are in real life.

I think mark to market got stopped?  Once yo get to the 20% + falls usually people start to go under/have problems.

 

Edited by Fromage Frais
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