Monday, October 27, 2008
London not so immune after all
FRESH evidence of London's collapsing property market emerged today as new figures revealed prices in the capital fell almost nine per cent in the last month. Homes in Kensington & Chelsea lost an average of £13,000 last month alone, while those in neighbouring Hammersmith & Fulham fell by £7,700, Richmond by £7,500 and in Wandsworth and Merton by £6,000, the Hometrack figures reveal. To add to the gloom, data from the National House Building Council reveals that house building in London has hit an all-time low, with only 517 private homes started last month.