Thursday, June 5, 2008

Housing Crash starts to hit prime London property

Credit crunch starts to hit prime London property

LONDON (Reuters) - Prime central London house prices are falling at the fastest rate since the early 1990s, data shows. They went down 1.5 percent in May -- the fastest rate of decline since the house price crash of the early 90s, according to estate agent Knight Frank.

Posted by housebear @ 02:27 PM (848 views)
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2 thoughts on “Housing Crash starts to hit prime London property

  • Just how many deals are done nowadays in a single month at this end of the London market? Enough for averages to have any statistical significance?

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  • @icarus,

    Very good point. Just as on the way up, people used sparse data to prove what they wanted to believe, we are seeing this again now.

    When the repossessions snowball, then we will have a lot of data.

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