Comments on: Why aren’t central London house prices falling? http://johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/ Incisive and topical campaigns and commentary on today's issues and tomorrow's problems Thu, 09 Feb 2012 20:05:58 +0000 hourly 1 By: Lee @ Chard http://johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-1189 Lee @ Chard Tue, 17 Jun 2008 14:40:52 +0000 http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-1189 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://johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-1188 Nick Longworth Mon, 28 Jan 2008 16:33:41 +0000 http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-1188 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: <a href="http://www.hbosplc.com/economy/includes/19_01_08UK.doc" rel="nofollow">http://www.hbosplc.com/economy/includes/19_01_08U...</a> 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_08U…

]]> By: Tim Bull http://johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-1187 Tim Bull Mon, 28 Jan 2008 14:23:50 +0000 http://www.johnredwoodsdiary.com/2008/01/28/why-arent-central-london-house-prices-falling/#comment-1187 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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