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London House Prices still rising?
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ad44downey
Posts: 2,246 Forumite
I find this hard to believe but prices are apparently still going up in london, up 4.6% over last 3 months? Is this lies, lies, damned lies and statistics or something substantial?
http://www.ft.com/cms/s/0/6e01a40c-6541-11dd-a352-0000779fd18c.html?nclick_check=1
http://www.ft.com/cms/s/0/6e01a40c-6541-11dd-a352-0000779fd18c.html?nclick_check=1
Krusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."
"Buy now because house prices only ever go UP, UP, UP."
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Seems like us crazy doom-mongering tin-foil hat wearing nutters have misread the situation.
How could we have been so wrong?0 -
Yes, quite so. The boom in house prices has clearly just restarted after a brief lull. Hold onto to your hats!Krusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."0 -
It also depends on where you are in London...sold prices are not going up in NW London once you leave the more central bits.0
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Funny the way different organizations come out with different stats nationwide say London is down 3.8% 2nd quarter 2008
http://www.nationwide.co.uk/hpi/historical/Q2_2008.pdf0 -
A lot of it does depend on where you live. The areas I am looking at are pretty stagnant with many vendors chasing down prices and still not getting a sale. Lots of houses in a nice area been up for sale since Jan/Feb time!0
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In the zone 3 area where I used to live a house sold in Nov 07 (completed Feb 08) for £325k, with an identical house now listed for £275k. We sold Feb 08 (completed Jul 08) for £310k.
In the zone 3 area I currently live in a house on my street completed in Nov 07 for £647k, and there is currently an identical one on for £520k. So outer London is certainly dropping.0
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