Comments on: Why aren’t central London house prices falling? http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/ Conservative Party Member of Parliament for Wokingham Fri, 25 Jul 2008 16:18:47 +0000 http://wordpress.org/?v=2.5.1 By: Lee @ Chard http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-21525 Lee @ Chard Tue, 17 Jun 2008 13:40:52 +0000 http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-21525 Hi John, In recent months we've seen a diverging nature of house prices. Mid-priced homes are falling quite steadily and what home-buyers there are in this market are starting to demand more and more for their money, whilst those at the top of the market are holding firm. It will be interesting to see how the latest events with the oil prices, on top of the credit crunch, will act to deflate prices futher. We've all heard the situation will continue well into next year (I nearly said week!) so I should expect at least at 15% fall in the mid-priced homes during that time. Lee Hi John,

In recent months we’ve seen a diverging nature of house prices. Mid-priced homes are falling quite steadily and what home-buyers there are in this market are starting to demand more and more for their money, whilst those at the top of the market are holding firm.

It will be interesting to see how the latest events with the oil prices, on top of the credit crunch, will act to deflate prices futher.

We’ve all heard the situation will continue well into next year (I nearly said week!) so I should expect at least at 15% fall in the mid-priced homes during that time.

Lee

]]> By: Nick Longworth http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-16771 Nick Longworth Mon, 28 Jan 2008 15:33:41 +0000 http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-16771 Actually, although this refers to Greater London, rather than Central London, there is evidence of a sharp drop in prices. According to the Halifax Index, residential property prices in London fell a staggering 6.3% in the last quarter of 2007, bringing the average price down from 320,000 in August to 300,000 in December. This compares to a UK-wide fall of just 0.8% for the quarter. See here: http://www.hbosplc.com/economy/includes/19_01_08UK.doc Actually, although this refers to Greater London, rather than Central London, there is evidence of a sharp drop in prices. According to the Halifax Index, residential property prices in London fell a staggering 6.3% in the last quarter of 2007, bringing the average price down from 320,000 in August to 300,000 in December. This compares to a UK-wide fall of just 0.8% for the quarter.

See here:
http://www.hbosplc.com/economy/includes/19_01_08UK.doc

]]> By: Tim Bull http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-16767 Tim Bull Mon, 28 Jan 2008 13:23:50 +0000 http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-16767 John: A very knowledgable Mayfair property agent has long asserted that property prices in this area bear no relation to the UK property market, but are driven almost entirely by the oil price. John:
A very knowledgable Mayfair property agent has long asserted that property prices in this area bear no relation to the UK property market, but are driven almost entirely by the oil price.

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