Sunday, May 1, 2016
“London has fallen”? – sorry Mr. Butler
99% of what you read in the papers about the housing market, .... is put out by people with something to sell. Estate agents, [lenders] Â– 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 itÂ’s guide price reduced prior to selling. The market is on the turn. Aha - the 10%!!