classixuk Posted March 20, 2006 Share Posted March 20, 2006 I'm totally confused! Looking at the latest Rightmove report it shows that prices (nominal; not inflation adjusted) in Kensington/Chelsea have fallen by -8.3% in one year! I always thought that Kensngton/Chelsea were desirable places to live. I think that many people like myself (folks living outside of London) think along simliar lines. Why have nominal prices fallen so much? Adjusted for inflation it's over 10% drop in just one year! What's going on there then? Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted March 20, 2006 Share Posted March 20, 2006 I'm totally confused! Looking at the latest Rightmove report it shows that prices (nominal; not inflation adjusted) in Kensington/Chelsea have fallen by -8.3% in one year! I always thought that Kensngton/Chelsea were desirable places to live. I think that many people like myself (folks living outside of London) think along simliar lines. Why have nominal prices fallen so much? Adjusted for inflation it's over 10% drop in just one year! What's going on there then? erm when average prices for a 3 storey terrace there are 1mil then perhaps a fall of 80K is to be understood, make for a good headline though Quote Link to comment Share on other sites More sharing options...
Europa Posted March 20, 2006 Share Posted March 20, 2006 I'm totally confused! Looking at the latest Rightmove report it shows that prices (nominal; not inflation adjusted) in Kensington/Chelsea have fallen by -8.3% in one year! I always thought that Kensngton/Chelsea were desirable places to live. I think that many people like myself (folks living outside of London) think along simliar lines. Why have nominal prices fallen so much? Adjusted for inflation it's over 10% drop in just one year! What's going on there then? Grossly over rated, but not really a dump. Think areas like this tend to fluctuate quite wildly (much like Westminster, etc) - prices are so high that they are very much detached from the mainstream market. Quote Link to comment Share on other sites More sharing options...
DonnieDarker Posted March 20, 2006 Share Posted March 20, 2006 Like anwywhere in London these areas are made up on smaller areas. Somewhere like West Kensington is quite nasty IMO. But then High Street Ken and that area is millionaires row. Quote Link to comment Share on other sites More sharing options...
Viterbi Posted March 20, 2006 Share Posted March 20, 2006 West Kensington used to be a posh area filled with 5 storey stucco houses. They were turned into flats during the 1930s and most now disintegrating from decades of neglect. Hardly anybody in West Kensington is a homeowner. It is a prime BTL territory centering on short term rented flats. As a consequence, the area has a very high turnover of people. The only good thing about West Kensington is that nobody ever looks at you. In Earls Court everybody looks at you thinking what to nick out of your pockets. Quote Link to comment Share on other sites More sharing options...
Father Fred Posted March 20, 2006 Share Posted March 20, 2006 Richer areas can often have wildly varying prices as a 10% rise in lower price volumes combined with a 10% fall in higher price volumes (or vice versa) could skew the figures massively. Quote Link to comment Share on other sites More sharing options...
Mags Posted March 20, 2006 Share Posted March 20, 2006 Like anwywhere in London these areas are made up on smaller areas. Somewhere like West Kensington is quite nasty IMO. But then High Street Ken and that area is millionaires row. I agree. K&C is an interesting borough. It's totally schizophrenic. High Street Ken, Kings Road, Sloane Square etc a completely different story from the more Western fringes which took a lot of the immigration burden when I was working there. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.