Sunday, May 1, 2016

“London has fallen”? – sorry Mr. Butler

Housing market on the edge?

99% of what you read in the papers about the housing market, .... is put out by people with something to sell. Estate agents, [lenders] – all know about the market because they are selling houses,.... mortgages or financial services but they must be optimistic or they lose business. No one will instruct a depressed estate agent...so these commentators MUST have a glass that is half full. As you can see from the graphs below, what we can see is that half of all homes sold in the first quarter of 2016 sold in London went for more than 10% below the guide price. Not just in some parts but across central London and across price bands! 60% of the property that did sell in Knightsbridge and Belgravia had it’s guide price reduced prior to selling. The market is on the turn. Aha - the 10%!!

Posted by techieman @ 10:08 AM (2822 views)
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4 thoughts on ““London has fallen”? – sorry Mr. Butler

  • This could be explained by asking prices rising a lot as agents compete more aggressively for business — “they must be optimistic or they lose business”. The most interesting part of this piece has no graphs and too few numbers — “I think that in the first quarter of the year London prices above £2m are down 20% and turnover is down 50% year-on-year. Above £5m sales are down 75%!”

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  • I cars. .. I’ve linked the actual referenced analysis above.(lon.res).

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  • techie – but how does that answer the points I made?

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  • Sorry Icarus. You are right it doesn’t. I haven’t looked at HP’s website which might be the place to look .

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