Wednesday, August 10, 2016

Average London house price down by £30,000 in July, says Haart

Average London house price down by £30,000 in July, says Haart

In London, the average property price fell from £558,760 to £527,349, the equivalent of about a £1,000 drop every day last month.

Posted by becky @ 01:56 PM (4383 views)
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3 thoughts on “Average London house price down by £30,000 in July, says Haart

  • “while in north London, prices plummeted by 9.3%, knocking £60,000 off the average home.” Hmmmm…. interesting trend could develop here

    What is of note in these figures is that transactions are up and prices down – “We’ve actually seen a bounce in transactions in July, with a lot of buyers pressing ahead with their purchase now that the referendum is over.”

    “Falling activity in the lettings market could be a signal of what is happening in the underlying economy. Haart said the number of tenants entering the market fell by 8.3% in July and 4.3% annually, helping explain the decline in rents over the month.” Both rents and prices now that is interesting – where are all these new renters flooding into brexit Britian

    But above all of this is the interesting fact, not reported here, is that development land has had a sharp fall in value, the 3rd consecutive monthly drop. Land prices are a much better indicator of future house prices. This will have a number of knock on effects as development companies start breaching loan agreements and could start the avalanche….

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  • I think this is probably right ME talking some sense.

    “Overall, it remains too early to determine if there has been any impact on the housing market as a result of June’s EU referendum result.”

    The blaming of Brexit and whether -if the bubble has burst – brexit was the pin is debatable. The mere stagnation of lending – let’s see THAT set of numbers – can lead to the abrupt curtailment of the bull.

    Most interesting times since 2007 and 2011.

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  • Love it, 1K a day. and it rhymes

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