Wednesday, March 17, 2010

London’s sellers are panicking

London house prices hit by March slump

Perhaps they've seen what's just round the corner ...

Posted by paul @ 08:16 AM (2063 views)
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9 thoughts on “London’s sellers are panicking

  • cynicalsoothsayer says:

    A total of 17, 923 properties are currently on the London property market, up from 3,681 in February.

    Wow

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  • CityAM is just as bad as any other freesheet rag or Express-a-like tabloid. Their attitude changes like the wind. Basically they print whatever is reasonable enough copy so as to meet its readership demographic profile for its advertisers.

    Check out the search: http://www.cityam.com/search/node/house%20prices

    First page of headlines:

    Global house prices still far too high
    London house prices hit by March slump
    First-time buyers hit by rising house prices in January
    House prices hit by the big freeze
    House prices on the rise in London boost
    London house prices too high for first-timers
    House prices still on the up
    House prices fall due to extra supply
    CITY VIEWS: WHAT WILL HAPPEN TO HOUSE PRICES IN 2010 ?
    House prices up 0.4 per cent

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  • SILVER & GOLD. I decided to take control of the HPC myself. 🙂

    My vote of no confidence.

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  • mark wadsworth says:

    CSS, indeedy, they published that a week ago and I’m surprised it didn’t raise eyebrows.

    Mick, good work.

    Anecdotal: the nice big house next door to use finally sold for £650k after having been on the market for £775k for over a year. A slightly not so nice house across the road went on for £465k last week and was, allegedly, snapped up immediately (although we’ll see about that). No way is the house next door worth £185k more than the one across the road. Tasty.

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  • I’m a daily reader of City AM. The factual articles are informative but I totally agree with mick rupert that its political bias is as bad as the next tawdry rag. Allister Heath’s comments from time to time are really quite astute but other times, his simpering brown-nosing to the masters of the universe makes my breakfast churn in my stomach. He writes about how beneficial and oh so very essential the financial sector is to the country – all that tax the banks and bankers pay (which of course pays for public services making the whole country a happy place of teletubby-land sunshine.

    A recent poll of ‘who would be the best chancellor” put Ken Clarke at #1 followed by George Osbourne with Vince Cable in third. Says it all really.

    One has to remember this is a paper for the City so it is as expected.

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  • “Rightmove said the market had become more competitive in the past month with improved weather conditions resulting in a 26 per cent increase in sellers”
    Well I feel sorry for the weather… When it snows it gets the blame because nobody wants to buy and when its sunny it gets the blame because everyone wants to sell!
    Why can’t someone just be honest and say that house prices are coming down because they’re too high and our economy is f***ed.

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  • “Market and new sellers have been forced to ask for just 0.1 per cent more, the lowest rise ever-recorded in March” Poor Sellers!
    Did anyone checked out of curiosity http://www.houseprices.co.uk/ how much the sellers really add to a property?

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  • @5 Timmy – Excellent!!!!

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  • “A total of 17, 923 properties are currently on the London property market, up from 3,681 in February.”
    – huh? Where is that is the source? I see no mention of London stock levels, only national and per agent

    From Rightmove:
    “More amenable weather conditions have allowed those who were delayed their sale to now bring their properties to market, contributing to the 105,784 measured this month. This is up by 15,769 on the number who came to market last month, an increase of 17.5%. However, new stock remains subdued compared to historic norms, still down 26% on the average pre-credit-crunch levels of 2005 to 2008.”

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