Sunday, May 25, 2008
“The darling locations of the City bonus boom will never be ugly ducklings, but some of the shine has come off the top of the market.”
What's happening to London house prices?
As half of the capital’s boroughs record price drops, Helen Davies asks if we are in for a slump or a slide
Posted by confused76 @ 09:06 AM (808 views)
4 thoughts on ““The darling locations of the City bonus boom will never be ugly ducklings, but some of the shine has come off the top of the market.””
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icarus says:
These articles should distinguish between asking and achieved prices and ask what part sweeteners play in achieved prices.
uncle tom says:
Trying to draw conclusions from month on month figures for individual London boroughs is an idiot’s game – the samples are far too small to yield good data.
While house price inflation across the rest of the UK stalled, London’s prices marched forward. ‘London leads the way’ the optimists cried ‘the rest of the UK will follow’
But it hasn’t. My instincts tell me that having overshot on the upswing, London’s prices are likely to crash in style.
Grrrrrrrrrrrrrr! says:
What on earth are these people measuring when they say prices have fallen by 2%? It’s insane!
I own a four bedroom house in Chelsea. I would like to sell in order to leave London. I have had TWO viewings in two months, and the price has been reduced by 500k so far. I am apparently in a sector of the market ‘unaffected’ by the credit crunch, but in my experience this is utter balls, if you’ll pardon my French. Both ‘top notch’ agents call me daily to say that they expect a result any day, that oligarchs are queueing round the block, that city bonuses are about to flood in, the top end is just dandy, but I’m sorry, it is not true.
I appreciate that I am not going to get much sympathy here, but it seems relevant to point out that prime, perfect central London real estate is NOT in massive demand, much like every other bit of property in this country!
Mytimeisnigh says:
Well I wouldn’t want to live in London, good luck to those who do. Foreign investors are exiting fast and the financial communities are on a frighteningly downward spiral, what’s left??? Get out while youi can.